TurboTax owner Intuit to buy Credit Karma for $7.1 billion

TurboTax owner Intuit plans to buy Credit Karma for $7 billion: Report

[ad_1]

TurboTax owner Intuit announced Monday that it plans to acquire consumer finance company Credit Karma in a $7.1 billion deal. 

The combination brings together two well-known personal finance companies. Intuit is the maker of Mint and TurboTax, the online tax filing service used by millions of Americans to file taxes. 

Credit Karma, which has more than 100 million members in the U.S., Canada and U.K., makes money through credit cards and loan referral commissions. It generated $1 billion in revenue in 2019.

“By joining forces with Credit Karma, we can create a personalized financial assistant that will help consumers find the right financial products, put more money in their pockets and provide insights and advice,”Sasan Goodarzi, CEO of Intuit, said in a statement. 

Getting married?:5 tax breaks that can make it easier to cope with wedding costs

Taxes 2020:Here’s a new IRS tax form for seniors that may make filing easier

[ad_2]

Source link

Published
Categorized as Top Stories

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.