Overview

Intuit is an American multinational financial-software company founded in 1983 by Scott Cook and Tom Proulx in Palo Alto, California. The company began with Quicken, a personal-finance application intended to replace paper-based household accounting with software that ordinary consumers could use on personal computers. It later expanded into tax preparation, small-business accounting, professional tax practice, credit services, marketing automation, and cloud-based enterprise software. Intuit's best-known brands include QuickBooks, TurboTax, Credit Karma, and Mailchimp. QuickBooks serves small businesses, self-employed people, accountants, and mid-market organizations with accounting, payroll, payments, commerce, and enterprise-resource-planning tools. TurboTax provides consumer tax-preparation products in the United States and Canada. Credit Karma offers credit scores, reports, monitoring, financial recommendations, and related personal-finance services. Mailchimp provides email marketing and customer-engagement tools for businesses. The company also operates professional tax products including ProConnect Tax, Lacerte Tax, and ProSeries Tax. The company became publicly traded on Nasdaq in 1993. Its growth was shaped by several strategic changes: acquiring Chipsoft, the creator of TurboTax; responding to competition from Microsoft Money; shifting from primarily desktop software toward web and subscription services; divesting its financial-services unit; and acquiring Credit Karma and Mailchimp. Intuit has increasingly positioned itself as an integrated financial technology platform that connects accounting, tax, credit, payments, marketing, and business-management data. Intuit primarily serves customers in the United States, although it has operated localized products and development activities in Canada and other markets. Its revenue has historically been concentrated in the United States. The company is listed under the ticker INTU and is included in major U.S. equity indexes. Sasan Goodarzi became chief executive in 2019, succeeding Brad Smith, who remained chairman. In 2024, Intuit announced a workforce reduction of approximately 1,800 employees, describing the move as a reallocation of resources toward generative artificial intelligence and other growth priorities. The brand's public profile has also been affected by controversy over TurboTax's participation in the IRS Free File program. Investigations reported that users searching for a free tax-filing option could be directed toward a similarly named paid product. Intuit ended its participation in the Free File Alliance after the 2020 filing season, and in 2022 agreed to a settlement related to advertising and enrollment practices. Critics have also challenged the company's lobbying against a government-operated free or pre-filled tax-filing system. Despite these disputes, Intuit remains one of the most prominent global providers of consumer and small-business financial software.

History

Intuit was established in 1983 by Scott Cook and Tom Proulx in Palo Alto, California. Cook developed the original business concept after observing that personal computers could replace the paper-and-pencil methods used for household financial record keeping. Proulx, whom Cook met through Stanford University, developed the first version of Quicken. The software was written for early IBM PC and Apple II environments and entered a competitive personal-finance market. During the early 1990s, Intuit faced a direct challenge from Microsoft, which introduced Microsoft Money as a competing personal-finance product. Intuit used retail promotions, including a rebate coupon, to defend Quicken's market position. The company also broadened its product portfolio and attracted investment from venture-capital figures including John Doerr. Intuit completed its initial public offering on Nasdaq in March 1993 under the symbol INTU. The IPO helped finance Intuit's acquisition of Chipsoft, a San Diego software company whose products included TurboTax. The transaction gave Intuit a major position in consumer tax preparation and helped establish the combination of personal finance and tax software that became central to the company's identity. Microsoft later proposed acquiring Intuit, but the U.S. Department of Justice challenged the transaction on competition grounds and the deal did not proceed. As competition in desktop personal finance intensified during the late 1990s, Intuit shifted its emphasis toward web-based services and markets where it believed it could build stronger positions. QuickBooks became the primary small-business accounting brand, while TurboTax became the principal consumer tax-preparation brand. Intuit also acquired Lacerte Software, a provider of professional tax software, and invested in or exchanged assets with other internet and financial-services companies. The company later expanded QuickBooks through online accounting, payroll, payments, commerce, and accountant-oriented tools. Intuit continued to reshape its portfolio in the 2010s. In 2013, it announced the sale of its financial-services unit to Thoma Bravo for approximately $1.03 billion. The transaction reduced the company's exposure to certain financial-services operations and concentrated resources on tax, accounting, and related software. Intuit also developed localized products in Canada, where its operations grew from the acquisition of Canadian tax software and supported French- and English-language versions of TurboTax and QuickBooks. The company entered a new phase of consumer-finance expansion with its 2020 acquisition of Credit Karma. Credit Karma added credit scores, reports, monitoring, recommendations, and other personal-finance capabilities. In 2021, Intuit announced and completed its acquisition of Mailchimp, extending its small-business offering into email marketing and customer engagement. These transactions supported Intuit's strategy of assembling a connected platform for small businesses and consumers rather than operating only as a packaged-software vendor. Intuit's leadership transitioned to Sasan Goodarzi in 2019. Brad Smith, the preceding chief executive, continued in a senior board role. Under Goodarzi, the company emphasized connected financial data, cloud services, artificial intelligence, and products intended to help customers understand and act on financial information. Its portfolio came to include QuickBooks Online, TurboTax, Credit Karma, Mailchimp, professional tax products, and enterprise financial-management software. The company has faced sustained criticism over TurboTax's Free File marketing. Intuit offered a no-cost service under the IRS Free File arrangement while also offering a similarly named paid product. ProPublica reporting in 2019 and later investigations by public authorities alleged that some consumers, including members of the military, were steered away from the free service through search-engine and website practices. Intuit left the Free File Alliance after the 2020 filing season. In 2022, the company agreed to a $141 million settlement related to allegations about misleading advertising and access to free filing. Intuit has also lobbied against proposals for an IRS-developed free or pre-filled filing system, a position criticized by consumer advocates. In 2024, Intuit announced a reduction of approximately 1,800 jobs, describing the change as a strategic reallocation toward generative AI and other growth initiatives. The company remains an active, Nasdaq-listed financial-software group whose brands serve consumers, small businesses, accountants, tax professionals, marketers, and larger organizations.

2024
Generative-AI-focused restructuring
[2]Intuit company informationintuit.com
Intuit announces approximately 1,800 job reductions while redirecting resources toward generative AI and growth initiatives.
2021
Mailchimp acquisition
[5]Intuit press roomintuit.com
Intuit adds Mailchimp's email marketing and customer-engagement platform to its small-business ecosystem.
2020
Credit Karma acquisition
[5]Intuit press roomintuit.com
Intuit completes its acquisition of Credit Karma and expands its consumer financial-services portfolio.
2019
Sasan Goodarzi becomes CEO
[2]Intuit company informationintuit.com
Goodarzi succeeds Brad Smith as chief executive.
2013
Financial-services unit is sold
[1]Intuiten.wikipedia.org
Intuit announces the sale of its financial-services unit to Thoma Bravo.
1998
Lacerte acquisition
[1]Intuiten.wikipedia.org
Intuit acquires Lacerte Software, strengthening its professional tax-preparation business.
1994
Microsoft acquisition attempt is blocked
[1]Intuiten.wikipedia.org
The U.S. Department of Justice challenges Microsoft's proposed acquisition of Intuit on antitrust grounds.
1993
Initial public offering and Chipsoft acquisition
[1]Intuiten.wikipedia.org
Intuit lists on Nasdaq and uses IPO proceeds to acquire Chipsoft, bringing TurboTax into its portfolio.
1991
Microsoft introduces Microsoft Money
[1]Intuiten.wikipedia.org
Microsoft enters the personal-finance software market with a direct competitor to Quicken.
1983
Intuit is founded
[1]Intuiten.wikipedia.org
Scott Cook and Tom Proulx establish Intuit in Palo Alto, California, and begin developing Quicken.

Products and positioning

A financial-technology platform connecting tax, accounting, credit, payments, marketing, and business-management workflows for consumers, small businesses, accountants, and mid-market companies.

Small-business accounting and financial management
QuickBooks
QuickBooks is Intuit's core small-business financial-management brand. Its products support bookkeeping, invoicing, expense tracking, financial reporting, payroll, payments, inventory, and connections with accountants. The portfolio includes desktop products and cloud services, with QuickBooks Online designed around continuously updated financial data and access through web and mobile interfaces.
Consumer tax preparation
TurboTax
TurboTax provides guided tax-preparation software and online filing services for individuals and households. Product tiers have included entry-level, standard, premier, and home-and-business versions, with functionality varying according to tax situations and investments. The brand operates primarily in the United States and has a localized Canadian business under the TurboTax and TurboImpôt names.
Credit monitoring and personal finance
Credit Karma
Credit Karma provides consumers with access to credit scores, credit reports, monitoring tools, financial recommendations, and related personal-finance services. Following Intuit's acquisition, the service became a major component of Intuit's consumer financial platform. Personal-finance capabilities formerly associated with Mint were incorporated into Credit Karma after Mint was discontinued as a standalone service.
Email marketing and customer engagement
Mailchimp
Mailchimp is a marketing-automation and customer-engagement platform used by businesses to create email campaigns, manage audiences, automate communications, and analyze marketing performance. Intuit acquired Mailchimp to complement QuickBooks and provide small businesses with tools spanning customer acquisition, engagement, and financial administration.
Cloud professional tax software
ProConnect Tax
ProConnect Tax is a cloud-based tax-preparation platform for accountants and tax advisers. It supports individual and business returns, integrates with QuickBooks Online Accountant, and includes client-document collection, electronic signatures, diagnostics, and tax-planning workflows. It is designed for firms that prefer browser-based preparation and may be offered through package or pay-per-return models.
Professional tax software · 1998
Lacerte Tax
Lacerte Tax is a professional tax-preparation product aimed at firms handling complex individual, corporate, partnership, fiduciary, estate, and gift returns. It originated with Lacerte Software, acquired by Intuit in 1998, and is positioned as a high-functionality solution with tax planning, what-if analysis, diagnostics, and QuickBooks Desktop integration.
Professional tax software
ProSeries Tax
ProSeries Tax is a forms-based desktop tax-preparation system for individual practitioners and small to mid-sized tax firms. Its editions support different combinations of individual and business returns and integrate with QuickBooks Desktop. Intuit positions ProSeries as a more accessible professional option than Lacerte, with annual and pay-per-return licensing approaches.
Cloud enterprise resource planning
Intuit Enterprise Suite
Intuit Enterprise Suite is a cloud-oriented financial and enterprise-management offering intended for mid-market organizations. It extends Intuit's small-business and accounting heritage toward broader planning, reporting, operational, and financial-management requirements.

Controversies

2026
Intuit sued in securities fraud class action over TurboTax pricing claims
A securities fraud class action was filed against Intuit Inc. and certain senior executives in the U.S. District Court for the Northern District of California. The complaint alleges the company misled investors about TurboTax's competitive advantages and growth prospects. It cites a 20.02% stock drop on May 21, 2026, after Intuit disclosed it lost on price among price-sensitive DIY filers.
Source
2022
Settlement over free-tax-service advertising
Intuit agreed to pay $141 million in a settlement concerning allegations that TurboTax advertising and enrollment practices misled consumers about the availability of free tax preparation.
Source
2022
Criticism of lobbying against government free filing
Consumer advocates and critics have challenged Intuit's lobbying against IRS proposals for a free, pre-filled tax-filing system, arguing that such systems could reduce dependence on commercial tax-preparation products.
Source
2019
TurboTax Free File steering controversy
Investigations alleged that Intuit directed users searching for free tax filing toward TurboTax Free Edition, a paid product for many users, through search-engine and website practices and confusing promotional language.
Source

Marketing campaigns

2020Intuit Prosperity Hub Program
United States · Canada
The program supported local economic development, workforce preparation, students, and small businesses through community-oriented initiatives and related technology resources.
Outcome. It reinforced Intuit's positioning as a provider seeking to support small-business resilience and local economic participation.
Source
2020QuickBooks Canada and Digital Main Street partnership
Canada
Intuit Canada announced a planned partnership with Digital Main Street to help Canadian small businesses adopt digital tools and improve their online operations.
Outcome. The initiative connected QuickBooks' small-business software with a broader digital-adoption program.
Source
1991Quicken retail rebate promotion
United States
Intuit used a consumer rebate coupon in retail distribution to defend Quicken against Microsoft's entry into personal-finance software.
Outcome. The promotion became an early example of Intuit using aggressive consumer marketing to protect software-market share.
Source

Brand decisions

2024
Reallocate resources toward generative AIStrategy
Background
Intuit identified generative artificial intelligence as a strategic priority and sought to redirect investment toward growth initiatives.
Action taken
The company announced approximately 1,800 job reductions and a corresponding reallocation of personnel and resources.
Aftermath
The restructuring increased emphasis on AI-enabled products and operational efficiency while reducing the workforce.
Source
2021
Acquire MailchimpM&A
Background
Intuit sought to provide small businesses with tools spanning customer acquisition, marketing, and financial administration.
Action taken
The company acquired Mailchimp, an email marketing and customer-engagement platform.
Aftermath
Mailchimp became a strategic complement to QuickBooks and strengthened Intuit's small-business ecosystem.
Source
2020
Acquire Credit KarmaM&A
Background
Intuit aimed to expand its consumer financial platform beyond tax filing and accounting.
Action taken
It acquired Credit Karma and incorporated credit and personal-finance capabilities into its portfolio.
Aftermath
The acquisition broadened Intuit's consumer reach and added credit monitoring, reports, recommendations, and related services.
Source
2013
Sell financial-services unitStrategy
Background
Intuit chose to concentrate more heavily on tax, accounting, and connected financial software.
Action taken
The company announced the sale of its financial-services unit to private-equity firm Thoma Bravo.
Aftermath
The divestiture simplified the portfolio and supported a stronger focus on core software categories.
Sale value. $1.03 billion (2013)
Source
1998
Acquire Lacerte SoftwareM&A
Background
Intuit was expanding its tax portfolio beyond consumer filing into professional tax preparation.
Action taken
It acquired Lacerte Software, a provider of professional tax products.
Aftermath
Lacerte became Intuit's premium professional-tax offering for complex returns and larger accounting firms.
Acquisition price. Approximately $400 million in cash (1998)
Source
1993
Acquire ChipsoftM&A
Background
Intuit sought to broaden its personal-finance business into tax preparation after becoming a public company.
Action taken
It used proceeds from its Nasdaq offering to acquire Chipsoft, the developer of TurboTax.
Aftermath
The transaction established TurboTax as a central Intuit brand and gave the company a major position in consumer tax software.
Source

Recent events

2024
Intuit announces workforce reduction to refocus on generative AI[2]Intuit company informationintuit.com
Leadership change · Other
Intuit announced plans to eliminate approximately 1,800 positions, or about 10 percent of its workforce, while reallocating resources toward generative artificial intelligence and other strategic priorities.
2021
Intuit announces acquisition of Mailchimp[5]Intuit press roomintuit.com
M&A
Intuit announced an agreement to acquire Mailchimp, adding email marketing and customer-engagement capabilities to its small-business platform.
2020
Intuit completes acquisition of Credit Karma[5]Intuit press roomintuit.com
M&A
Intuit completed its acquisition of Credit Karma, expanding from accounting and tax software into credit monitoring, personal finance, and consumer financial recommendations.