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Intuit
Intuit

-5.69%

IT / Software

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Company at a Glance

Overview
Intuit is an American financial software company that produces various popular products such as QuickBooks, TurboTax, and Mint. Founded in 1983 by Scott Cook and Tom Proulx, Intuit aims to simplify complex financial tasks for individuals and small businesses. The company is headquartered in Mountain View, California and has approximately 10,500 employees worldwide.
Intuit's main products include QuickBooks, which is a popular accounting software for small businesses, and TurboTax, which is a tax preparation software for individuals and businesses. Both of these products have a large customer base and are widely used by millions of individuals and businesses in the United States.
In addition to these products, Intuit also offers services such as payroll solutions, payment processing, and banking services. The company is constantly evolving and expanding its products and services to meet the changing needs of its customers.
Intuit's mission statement is "Powering Prosperity Around the World". This reflects the company's focus on helping individuals and businesses achieve financial success and stability.
Over the years, Intuit has received numerous awards and accolades for its products and services. The company has also been recognized for its workplace culture and innovation. In 2020, Intuit was ranked #8 on Fortune's "World's Most Admired Companies" list in the computer software category.
In addition to its financial products and services, Intuit is also committed to social responsibility and has programs in place to promote diversity and inclusion, sustainability, and community giving.
In summary, Intuit is a leading financial software company that provides a range of popular products and services aimed at simplifying financial management for individuals and businesses. With a strong focus on innovation and social responsibility, Intuit continues to be a major player in the financial technology industry.
What is special about the company?
1. Leader in accounting and tax preparation: Intuit is the market leader in accounting and tax software, with well-known products such as QuickBooks and TurboTax. This dominance has made it a trusted and reputable brand in the industry.
2. Innovative and customer-focused: Intuit has a strong focus on innovation and continuously strives to improve its products and services to meet customer needs. It also has a deep understanding of its customers' pain points and provides solutions to address them.
3. Emphasis on employee well-being: Intuit prides itself on creating a supportive and inclusive work environment for its employees. The company offers competitive salaries, comprehensive benefits, and a strong emphasis on work-life balance.
4. Culture of experimentation and learning: Intuit encourages a culture of experimentation and continuous learning. Its employees are empowered to take risks and try new things, which has resulted in the development of groundbreaking products and services.
5. Corporate social responsibility: Intuit is committed to making a positive impact in the communities where it operates. It has various initiatives, such as the Intuit Education Program, that focus on providing free financial education and resources to underserved communities.
6. Environmental sustainability: As a technology company, Intuit recognizes its responsibility to reduce its impact on the environment. The company has set ambitious goals to achieve carbon neutrality and reduce its overall carbon footprint.
7. Strong financial performance: Intuit consistently delivers strong financial results, demonstrating its ability to sustain growth and profitability. This stability has made it a reliable investment for shareholders and a financially solid company overall.
8. Diversity and inclusion: Intuit values diversity in its workforce and strives to create a culture of inclusion. It has various diversity and inclusion initiatives, such as the Women in Tech Council and the Intuit Military Network, to promote diversity within the company.
9. Commitment to small businesses: Intuit has a strong commitment to supporting small businesses, which play a significant role in driving economic growth. The company offers a range of products and services specifically tailored to the needs of small businesses.
10. Technological advancements: Intuit has a history of incorporating cutting-edge technology into its products and services. This includes the use of artificial intelligence and machine learning to improve its offerings and provide a better customer experience.
What the company's business model?
The Intuit company's business model is based on providing financial and tax software products and services for individuals and small businesses. This includes the popular QuickBooks accounting and TurboTax tax preparation software. Intuit also offers a range of other financial management and online payment solutions, as well as services for individuals and businesses to manage their personal and business finances. The company primarily generates revenue through the sale and subscription of its software and services, as well as fees from online payment transactions and merchant services. Additionally, Intuit offers services such as professional tax preparation and consulting for businesses and individuals, and it has expanded into the healthcare market with its software solutions for healthcare providers.
Interesting facts about the company
1. Intuit was founded in 1983 by Scott Cook and Tom Proulx in Palo Alto, California.
2. The company’s original name was Intuit, Inc., but it was changed to Intuit, Inc. in 2001.
3. The idea for Intuit came to Scott Cook when he was watching his wife struggle to pay bills and balance the family checkbook.
4. Intuit’s first product was called Quicken, a personal finance software that allowed users to manage their finances and track their expenses.
5. Intuit’s most well-known product is TurboTax, a tax preparation software that helps individuals and businesses file their taxes.
6. In addition to Quicken and TurboTax, Intuit also offers other financial and business management tools such as QuickBooks, Mint, and ProConnect.
7. Intuit has been named one of the 100 Best Companies to Work For by Fortune magazine for 18 consecutive years.
8. The company has over 40 million users of its products and services worldwide.
9. Intuit’s revenue in 2020 was $7.68 billion.
10. In 2020, Intuit acquired Credit Karma for $7.1 billion, expanding its services to include credit score tracking and reporting.
11. The company has a focus on diversity and inclusion, with over 45% of its employees being women and over 30% being people of color.
12. Intuit’s headquarters in Mountain View, California is also known as Intuit Dome due to its unique oval shape.
13. The company has a strong commitment to sustainability and has set a goal to reach net-zero emissions by 2030.
14. Intuit has been recognized for its innovation and was named one of the World’s Most Innovative Companies by Forbes in 2019.
15. Intuit has a yearly event called Intuit Innovation Gallery Walk where employees can showcase their creations and ideas to company executives.
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