Intuit Inc.

What does Intuit own?
Intuit owns TurboTax (tax preparation software), QuickBooks (small business accounting), Credit Karma (personal finance platform with 140+ million members), and Mailchimp (email marketing and marketing automation). The company discontinued its Mint personal budgeting app in January 2024, migrating users to Credit Karma.

Is Intuit publicly traded?
Yes, Intuit Inc. is listed on NASDAQ under ticker INTU. The company has been publicly traded since 1993. Intuit has a broad institutional and retail shareholder base with no single controlling shareholder. Major institutional shareholders include Vanguard Group, BlackRock, and State Street.

Who founded Intuit?
Intuit was founded in 1983 in Palo Alto, California by Scott Cook and Tom Proulx. Cook, a former Procter and Gamble brand manager, was inspired to create personal finance software after watching his wife struggle with household bill-paying. The company's first product, Quicken personal finance software, was released in 1984.

What is Intuit's revenue?
Intuit reported FY2025 revenue of approximately $18.8 billion (fiscal year ended July 31, 2025), up approximately 17% from FY2024. Growth was driven by all three segments: Small Business and Self-Employed, Consumer, and Credit Karma.

Who is the CEO of Intuit?
Sasan Goodarzi has served as President and CEO of Intuit since January 2019. Goodarzi has led Intuit's transformation from a desktop software company to a cloud-based platform business and has overseen the acquisitions of Credit Karma and Mailchimp. He is leading the company's AI-driven expert platform strategy.

Where is Intuit headquartered?
Intuit is headquartered in Mountain View, California, USA, in the heart of Silicon Valley. The company also has major offices in San Diego, California (TurboTax development), Atlanta, Georgia (Credit Karma), and New York City (Mailchimp).

What is the IRS Direct File program and how does it affect Intuit?
The IRS Direct File program is a free government-run tax filing system launched in 2024 in 12 states and expanded in 2025. It competes with TurboTax by offering free tax filing to eligible taxpayers. Intuit has lobbied against the program and emphasizes the superior value of TurboTax's AI-powered experience, but Direct File represents a long-term competitive threat to TurboTax's paid tax preparation business.

Intuit was founded in 1983 in Palo Alto, California by Scott Cook and Tom Proulx. Cook, a former Procter and Gamble brand manager, was inspired to create personal finance software after watching his wife struggle with household bill-paying. The company's first product, Quicken personal finance software, was released in 1984 and became one of the best-selling personal finance software programs in history.

Intuit went public in March 1993, listing on NASDAQ under ticker INTU. The company launched QuickBooks small business accounting software in 1992, which quickly became the dominant small business accounting software in the United States.

Microsoft attempted to acquire Intuit in 1994 for approximately $1.5 billion, but the US Department of Justice threatened to block the merger on antitrust grounds, and Microsoft abandoned the acquisition in 1995.

Intuit acquired TurboTax (originally developed by ChipSoft) in 1993, adding the leading consumer tax preparation software to its portfolio. TurboTax became one of Intuit's most important products, generating significant revenue during the annual tax filing season.

Intuit acquired Credit Karma in December 2020 for approximately $7.1 billion, adding a personal finance platform with more than 100 million members. The acquisition was initially challenged by the US Department of Justice, which required Intuit to divest Credit Karma's tax business as a condition of approval.

Intuit acquired Mailchimp in November 2021 for approximately $12 billion, adding a leading email marketing and marketing automation platform for small businesses. The Mailchimp acquisition was Intuit's largest to date and significantly expanded its small business platform.

Intuit discontinued its Mint personal budgeting app in January 2024, migrating users to Credit Karma. The Mint shutdown reflected Intuit's strategy of consolidating personal finance offerings under Credit Karma.

For FY2025 (ended July 31, 2025), Intuit reported revenue of approximately $18.8 billion, up approximately 17% year over year, reflecting continued growth across all four of its major businesses. The company's AI-driven strategy, including the Intuit Assist platform, has been a key growth driver.

In 2025, Intuit faced new competition from the IRS's Direct File program, which offers free government-run tax filing to eligible taxpayers in participating states. Intuit has responded by promoting its AI-powered tax preparation experience and expanding its free filing options.

Intuit has faced significant regulatory scrutiny and legal challenges regarding TurboTax's Free File program. The company participated in the IRS Free File Alliance, which was supposed to provide free tax filing to eligible low-income taxpayers. However, investigations by ProPublica and state attorneys general found that Intuit used deceptive practices to steer eligible free filers toward paid products. In May 2022, Intuit agreed to pay $141 million to settle claims by all 50 US state attorneys general.

Intuit has also faced criticism for lobbying against the IRS's development of a free government-provided tax filing system (Direct File), which critics argue is motivated by the company's financial interest in maintaining the paid tax preparation market. The IRS launched Direct File in 2024 in 12 states and expanded it in 2025.

The Federal Trade Commission (FTC) has also taken action against Intuit regarding deceptive advertising of "free" tax filing. In 2023, the FTC ordered Intuit to stop advertising TurboTax as free unless it is actually free for all users or the company clearly discloses all limitations.