The Refreshing Story of Mint.com

mint_logoWhen I first heard about Mint.com back in November 2007, I thought it was a great idea but wondered if people would be willing to part with their financial data via an online platform. The market has spoken, Mint was acquired in Sept. 2009 for USD 170 million by personal finance software market leader Intuit.

So what is Mint?  Mint takes your personal financial data and makes recommendations on your spending habits, investments, insurance, etc… Mint makes money via the service providers who want to sell products to the Mint audience. Simple and Sweet.

To get access to all that financial data they went to a single provider – Yodlee.com  and then enticed users by slapping an amazingly simple user interface on the data.

It’s a remarkable story and exit for CEO Aaron Patzer. He recently talked about the journey, the video is below and I would highly recommend viewing the whole thing.  I love his quote (about 5 minutes into the clip) about outsourcing the development to oDesk or India…”dead wrong.” The last 3 1/2 minutes are also really good.

http://vimeo.com/moogaloop.swf?clip_id=6960507&server=vimeo.com&show_title=0&show_byline=0&show_portrait=0&color=00ADEF&fullscreen=1

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s