Intuit acquires Credit Karma
Emailed on February 28th 2020 in The Friday Forward
Intuit closed a deal to buy Credit Karma for a price tag of $7.1 billion on Monday, according to published reports. The bookkeeping software titan will now add the personal credit score website to its roster among other names like Quickbooks, TurboTax and more. The company is now worth more than $74 billion.
Credit Karma was valued at $4 billion in a private share sale around two years ago. Credit Karma offers a number of services including free access to one’s credit score and borrowing history, alerts to potential data breaches, and tax preparation and filing.
They make money through referral fees. Users receive offers from companies for credit cards and loans, tailored to their credit history, then the company makes money when users use those products.