Intuit—ad spending, facts and profile

Overview Intuit is a global financial technology marketer. The company’s brands include TurboTax, Credit Karma, QuickBooks and Mailchimp. Intuit’s headquarters is in Mountain View, California. Business segments and operations See more: Intuit’s business and brands Intuit said in its 10-K annual regulatory filing for the year ended July 2024: “We use a variety of marketing programs to generate direct sales, develop leads, increase general awareness of the Intuit brand and our product portfolio, and drive sales in retail. “These programs include offline marketing such as TV and radio advertising; digital marketing such as display and pay-per-click advertising, search engine optimization, and social and affiliate marketing; email marketing; in-product marketing to drive awareness of related products and services; public relations; sponsorships; podcast marketing; mobile marketing; and retail marketing. “Our campaigns are designed to attract new users, retain existing users, and cross-sell additional offerings.” Marketing spending Worldwide ad spending: Total worldwide advertising spending shown in the Ad Age World’s Largest Advertisers report is Intuit’s stated worldwide “advertising expense.” Intuit disclosed worldwide advertising expense of about $1.7 billion in the 12 months ended July 31, 2024 (fiscal 2024), up 13.3% from $1.5 billion in the 12 months ended July 31, 2023. Intuit disclosed worldwide advertising expense of about $1.5 billion in the 12 months ended July 31, 2023 (fiscal 2023), down 6.3% from $1.6 billion in the 12 months ended July 31, 2022. U.S. ad spending: Total U.S. advertising spending shown in the Leading National Advertisers report is an Ad Age Datacenter estimate of Intuit ad spending. Links to Ad Age’s advertiser rankings Latest rankings: U.S. The Ad Age Leading National Advertisers 2024 ranking was released Oct. 28, 2024. Ad Age Leading National Advertisers 2024 U.S. ad spending, rankings, analysis and profiles for the biggest marketers Click here Past rankings: U.S. Ad Age Leading National Advertisers 2023 Ad Age Leading National Advertisers 2022 Latest rankings: worldwide The Ad Age World’s Largest Advertisers 2024 ranking was released Dec. 9, 2024. Ad Age World’s Largest Advertisers 2024 Global ad spending, rankings, analysis and profiles for the biggest marketers Click here Past rankings: worldwide Ad Age World’s Largest Advertisers 2023 Ad Age World’s Largest Advertisers 2022 Financial results Intuit is primarily focused on the U.S. market. Intuit said international revenue accounted for about 8% of worldwide revenue in fiscal 2024 (year ended July 31, 2024), fiscal 2023 and 2022; 5% in fiscal 2021; and 4% in fiscal 2020. Intuit said international revenue accounted for less than 5% of its worldwide revenue in fiscal 2019, 2018, 2017 and 2016. See more: Intuit financial results Read Intuit’s annual filing Deals and strategic moves Mailchimp (acquisition): Intuit on Nov. 1, 2021, bought Rocket Science Group (Mailchimp) for total consideration of $12.0 billion, including $5.7 billion in cash and 10.1 million shares of stock with a value of about $6.3 billion. Mailchimp is a marketing platform that lets small and mid-market businesses digitally promote their businesses across email, social media, landing pages, ads and websites. Credit Karma (acquisition): Intuit Dec. 3, 2020, bought Credit Karma, a consumer technology company focused on personal finance, for total consideration of $8.1 billion, which included assumed equity awards and restricted shares subject to a revest provision. The fair value of the purchase price totaled $7.2 billion and included $3.4 billion in cash, 10.6 million shares of stock with a fair value of $3.8 billion and assumed equity awards for services rendered through the acquisition date of $47 million. Credit Karma’s stated worldwide “advertising costs” for calendar year: 2019: $228.8 million (23.5% of revenue) 2018: $172.3 million (21.2% of revenue) Quicken (sale): Intuit April 1, 2016, sold Quicken, a personal-finance software brand, to H.I.G. Capital, a buyout firm. Also on April 1, 2016, Intuit sold QuickBase, an application development platform, to Welsh, Carson, Anderson & Stowe, a buyout firm. Intuit Feb. 1, 2016, sold its Demandforce business to Internet Brands, an online media and software services firm. Intuit received $463 million cash from the sale of Quicken, QuickBase and Demandforce. Intuit bought Demandforce, a provider of online marketing and customer communication solutions for small businesses, in May 2012 for about $449 million. Intuit in 1999 bought Turning Mill Software for stock. Intuit in 2000 rebranded Turning Mill’s oneBase as QuickBase. Intuit developed Quicken in 1983. Quicken Loans: Intuit in December 1999 bought Rock Financial Corp. Intuit combined Intuit’s QuickenMortgage business with Rock’s online and traditional lending business, creating Quicken Loans. Intuit in July 2002 sold 87.5% of Quicken Loans to Rock Acquisition Corp. Intuit in October 2012 sold its remaining 12.5% stake to Rock’s majority shareholders. Rock evolved into Rocket Cos., which went public in 2020. Rocket initially licensed the Quicken Loans brand from Intuit. Rocket’s agreement with Intuit gave Rocket full ownership of the Quicken Loans brand in 2022. Quicken Loans officially changed its name to Rocket Mortgage on July 31, 2021. In announcing the move, Rocket Cos. said: “This change will bring alignment to the overall ‘Rocket’ brand, while also making it clear to homebuyers that technology, a core tenet of Rocket Companies, is injected throughout the entire home buying lifecycle—from home search to mortgage closing.” Microsoft Corp.: Microsoft Corp. in October 1994 struck a deal to buy Intuit in a transaction valued at $1.5 billion. The companies abandoned the deal in May 1995 after the Justice Department sued to block the merger. Management and employees See more: Intuit management See more: Intuit careers Stock Intuit trades on Nasdaq under ticker INTU. History Intuit was incorporated in March 1984 and completed its initial public offering in March 1993. See more: Intuit history Ad Age Leading National Advertisers 2024 U.S. ad spending, rankings, analysis and profiles for the biggest marketers Click here

Intuit—ad spending, facts and profile

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