Wednesday, 19 December 2012

Mint Personal Finance

Mint Personal Finance Biography

Mint.com is a free web-based personal financial management service for the US and Canada[2] created by entrepreneur Aaron Patzer. Mint originally provided account aggregation through a deal with Yodlee, but has since moved to using Intuit for connecting to accounts.[3] Mint's primary service allows users to track bank, credit card, investment, and loan transactions and balances through a single user interface. Users can also make budgets and goals, like saving $1000. Users also have the option to manually enter cash or check transactions.[4]
Mint has garnered media coverage from a number of blogs and media outlets such as the New York Times,[5] GigaOM,[6] VentureBeat,[7] the Orlando Sentinel,[8] and the San Francisco Chronicle.[9]
The company is located in Mountain View, California. Mint currently only supports financial institutions based in the United States[10] and Canada.[11]
On November 2, 2009, Intuit, the makers of Quicken and TurboTax, completed acquisition of Mint.com.[12]
On April 19, 2010, Mint.com announced expansion in its reach to connect securely and to download transactions from virtually every bank, credit union and credit card account in the United States with online banking capability. Mint.com can connect with more than 16,000 US financial institutions and supports more than 17 million individual financial accounts. By April 2010, Mint had more than 3 million users.[13] As of March 2012, Mint.com claimed to have over 7 million users.[14]Mint has raised over $31M in venture capital funding from DAG Ventures, Shasta Ventures, and First Round Capital,[15][16] as well as from angel investors including Ram Shriram, an early investor in Google.[17] The latest round of $14M was closed on August 4, 2009,[18] and reported by CEO Aaron Patzer as preemptive.[19] TechCrunch later pegged the valuation of Mint at $140M.[20]
Currently (February 2008), revenue is generated through lead generation in which Mint.com recommends highly personalized financial products to its users.[21]
Bloomberg reported (May 2009) Mint was considering selling access to anonymous consumer data as a form of revenue.[22] This led to some criticism,[citation needed] as personal data can be de-anonymized.[23] Aaron Patzer later responded by calling Bloomberg's headline a "misinterpretation", as only aggregate spending indexes would be published, not individual consumer data.[24]
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