Why is this such a great deal for Intuit? Fast Company explains:
“Mint’s apparently not begun to investigate the data-mining opportunities present in the recorded info on those 1.4 million users–a data set that’s got intrinsic value in its own right.”
Wow, that’s pretty bold-faced. To be fair, as a user of Mint.com I appreciated the fact that they had not begun to investigate the data-mining opportunities present in their users’ accounts.
So, the way I see it is this. Intuit paid $170 million for Mint. A lot of the value of Mint comes from its 1.4 million registered users. If you’re like me and you have a “thing” for Mint but not so much for Intuit, you would want to see Mint get the better end of the bargain here. There’s probably no better way to make sure this happens than to delete your account on Mint.
That way, Intuit will have paid a heck of a lot more money for a dwindling user base, so it will be as though Mint got paid more for delivering less! It’s like selling your house, and then hiring someone to break all the windows before the new owner moves in. You got paid more for something that’s now worth less! You win!
UPDATE: Here’s Peter Merholz’ take on the acquisition: User Experience = $5 Million per Employee
UPDATE 2: Don’t miss Jason Fried’s glowing take, affectionately titled The Next Generation Bends Over