"It's funny, isn't it?" he said. Both Mint and Homestead went for the same price.
Coincidence? Intuit also bought another company, Paycycle, in June of this year. Guess for how much. That's right. $170 million.
What the heck is going on at Inuit? Do they have a stack of pre-printed $170 million checks? Do they only like companies as they pass through that magical valuation number (as decided by their own analysts)?
Intuit says this: It's a coincidence. And, I've been reminded, the company has made non-$170 million buys: MyCorporation.com in 2005, for $20 million; Digital Insight (2007) for $1.3 billion; Electronic Clearing House (2007) for $131 million; and Entellium (2008) for $8 million.
I still think if you're selling a company to Intuit, you should ask for $170 million. It's a figure they're comfortable with.