Mountain View, California, United States
Region: US 🇺🇸
Year Founded: 1983
IPO Date: 03-01-1993
Market Cap: $120 billion
Number of Employees: Approx. 9,400 (July 2023)
Revenue: $9.6 billion (2022)
Net Income: $2.5 billion (2022)
Intuit, the financial software company, went public on March 15, 1993. Its initial public offering (IPO) was priced at $18 per share.
The IPO was well-received by investors and marked a significant milestone in Intuit’s journey towards becoming a publicly traded company.
Since then, Intuit has experienced steady growth and has become a prominent player in the financial software industry.
Intuit IPO Prospectus
A prospectus is a formal document required by and filed with the Securities and Exchange Commission (SEC) that provides details about an investment offering to the public.
You can find Intuit’s Prospectus here.
Company Overview & History
Intuit was founded in 1983 by Scott Cook and Tom Proulx with the vision of simplifying financial management for individuals and small businesses.
The company’s flagship product, Quicken, was launched in 1984 and quickly gained popularity as one of the first personal finance software programs.
Building on its early success, Intuit expanded its product portfolio to include QuickBooks, a widely-used accounting software for small businesses, and TurboTax, a leading tax preparation software.
Over the years, Intuit’s innovative solutions and commitment to user-friendly interfaces have made it a household name in the financial software industry.
The company’s dedication to empowering individuals and businesses to manage their finances efficiently has been the driving force behind its growth and success.
|Year||Revenue($B)||Net Income($B)||EBITDA($B)||Operational Cash Flow($B)|
Intuit operates on a primarily software-as-a-service (SaaS) business model.
The company offers a range of financial management tools, including QuickBooks Online, TurboTax Online, and Mint, among others, on a subscription basis.
This model provides customers with continuous access to the latest updates and features, ensuring they have the most up-to-date financial management tools at their disposal.
Additionally, Intuit generates revenue through one-time software sales, as well as through various add-on services and solutions that enhance the overall user experience.
Market Cap Over the Years
While Intuit has enjoyed considerable success, there are several risk factors that the company faces.
These may include intensifying competition from other financial software providers, changes in tax regulations, data security and privacy concerns, and potential disruptions in the global economy that could impact small businesses and individuals’ financial activities.
Intuit acknowledges these risks and continuously seeks to address them through strategic planning and risk management initiatives.
The market opportunity for Intuit is significant, driven by the growing demand for financial management solutions among individuals and small businesses.
As more people seek convenient ways to manage their finances and taxes, Intuit’s suite of products and services remains well-positioned to cater to this expanding market.
Additionally, the company has been exploring opportunities to expand its global presence, tapping into new markets with emerging financial software needs.
- Wave Financial
- Zoho Books
- Sage Intacct
Key/Fun Company Facts
- Intuit’s headquarters are located in Mountain View, California.
- The company has a strong emphasis on employee satisfaction and has been recognized as one of the best places to work in various rankings.
- Intuit has actively supported initiatives for financial literacy and education, aiming to empower individuals and businesses to make better financial decisions.
- The acquisition of Mint, a popular personal finance management tool, played a crucial role in enhancing Intuit’s portfolio and user base.
- Intuit regularly hosts innovation challenges and hackathons to encourage creative thinking and foster a culture of continuous improvement.