INTUIT INC.

Intuit is a financial technology company that makes cloud-based software for accounting, tax preparation, personal finance, and small business management. Scott Cook and Tom Proulx founded it in 1983 in Mountain View, California. Today it serves about 100 million customers through four main products: TurboTax, QuickBooks, Credit Karma, and Mailchimp.

TurboTax dominates consumer tax preparation in the United States. Tens of millions of people use it to file their federal and state returns every year. Plans range from free basic filing to premium tiers where licensed tax pros actually review or prepare returns. Revenue is heavily seasonal, concentrated from January through April. Retention is strong because your prior-year data imports automatically, making switching painful.

QuickBooks is the small business backbone. It provides cloud accounting, invoicing, payroll, payments, time tracking, and inventory management. Millions of small businesses and freelancers use QuickBooks Online across multiple countries. The ecosystem also includes QuickBooks Payroll, QuickBooks Payments for card processing, and QuickBooks Capital for small business lending. The desktop version is fading as the online platform takes over.

Credit Karma, acquired for $8.1 billion in 2020, serves over 130 million members with free credit scores, credit monitoring, tax filing, and personalized financial product recommendations. Its revenue comes from referral fees when users sign up for credit cards, loans, insurance, or savings products. It's essentially a high-margin marketplace business.

Mailchimp cost $12 billion in 2021. It's an email marketing and customer engagement platform for small and mid-market businesses. The integration with QuickBooks creates a unified platform where small businesses manage both their finances and their customer marketing in one ecosystem.

Revenue is a blend of subscriptions, transaction fees, and marketplace referrals. Annual revenue is roughly $21.5 billion, with gross margins around 78% and operating margins near 25%. Intuit has invested heavily in AI through its GenOS platform, adding features like automated categorization, tax deduction discovery, and cash flow forecasting across all products.

The primary audience is consumers and small businesses with fewer than 100 employees, though the mid-market QuickBooks Advanced product reaches larger companies. Intuit's moat comes from data network effects. The more financial data flowing through the platform, the smarter its AI recommendations become. With about 17,000 employees and dominant positions in tax prep and small business accounting, Intuit is a foundational player in consumer and SMB fintech.