What Is Niche Marketing Biography
Intuit was conceived by Scott Cook, whose prior work at Procter & Gamble helped him realize that personal computers would lend themselves as replacements for paper-and-pencil based personal accounting.[5] On his quest to find a programmer he ended up running into Tom Proulx at Stanford. The two started Intuit, which initially operated out of a modest room on University Avenue in Palo Alto. The first version of Quicken was coded in Microsoft's BASIC programming language for the IBM PC and UCSD Pascal for the Apple II by Tom Proulx and had to contend with a dozen serious competitors. Intuit struggled financially until they found their formula for success, which revolved around direct marketing campaigns, favorable reviews in industry and consumer magazines and word of mouth from satisfied customers[citation needed].
Although by 1988 Quicken became a best-seller in its market[citation needed], the company was not a major success until the advent of Windows 3.0 in early 1990s, when sales of Quicken grew[citation needed]. In 1991 Microsoft decided to produce a competitor to Quicken called Microsoft Money. To win retailers' loyalty, Intuit included a US$15 rebate coupon, redeemable on software customers purchased in their stores. This was the first time a software company offered a rebate.[6]
Roughly around the same time the company engaged John Doerr of Kleiner Perkins Caufield & Byers and diversified its product lineup. In 1993 Intuit went public and used the proceeds to make a key acquisition: the tax-preparation software company Chipsoft based in San Diego. The time after the IPO was marked by rapid growth and culminated with a buyout offer from Microsoft in 1994; at this time Intuit's market capitalization reached US$2 billion.
When the buyout fell through because of United States Department of Justice disapproval, the company came under intense pressure in late 1990s when Microsoft started to compete vigorously with its core Quicken business.[7] In response, Intuit launched new web-based products and solutions and put more emphasis on QuickBooks and on TurboTax. The company made a number of investments around this time. Among others, it purchased a large stake in Excite and acquired Lacerte Software, a Dallas-based developer of tax preparation software used by tax professionals. It also divested itself of its online bill payment service unit and extended and strengthened its partnership with CheckFree.
Today, Intuit has about US$3 billion in annual revenue and US$12.2 billion market capitalization.
Intuit has been ranked in Fortune's "Top 100 Best Companies to Work For" for the past several years.[8]
Intuit was conceived by Scott Cook, whose prior work at Procter & Gamble helped him realize that personal computers would lend themselves as replacements for paper-and-pencil based personal accounting.[5] On his quest to find a programmer he ended up running into Tom Proulx at Stanford. The two started Intuit, which initially operated out of a modest room on University Avenue in Palo Alto. The first version of Quicken was coded in Microsoft's BASIC programming language for the IBM PC and UCSD Pascal for the Apple II by Tom Proulx and had to contend with a dozen serious competitors. Intuit struggled financially until they found their formula for success, which revolved around direct marketing campaigns, favorable reviews in industry and consumer magazines and word of mouth from satisfied customers[citation needed].
Although by 1988 Quicken became a best-seller in its market[citation needed], the company was not a major success until the advent of Windows 3.0 in early 1990s, when sales of Quicken grew[citation needed]. In 1991 Microsoft decided to produce a competitor to Quicken called Microsoft Money. To win retailers' loyalty, Intuit included a US$15 rebate coupon, redeemable on software customers purchased in their stores. This was the first time a software company offered a rebate.[6]
Roughly around the same time the company engaged John Doerr of Kleiner Perkins Caufield & Byers and diversified its product lineup. In 1993 Intuit went public and used the proceeds to make a key acquisition: the tax-preparation software company Chipsoft based in San Diego. The time after the IPO was marked by rapid growth and culminated with a buyout offer from Microsoft in 1994; at this time Intuit's market capitalization reached US$2 billion.
When the buyout fell through because of United States Department of Justice disapproval, the company came under intense pressure in late 1990s when Microsoft started to compete vigorously with its core Quicken business.[7] In response, Intuit launched new web-based products and solutions and put more emphasis on QuickBooks and on TurboTax. The company made a number of investments around this time. Among others, it purchased a large stake in Excite and acquired Lacerte Software, a Dallas-based developer of tax preparation software used by tax professionals. It also divested itself of its online bill payment service unit and extended and strengthened its partnership with CheckFree.
Today, Intuit has about US$3 billion in annual revenue and US$12.2 billion market capitalization.
Intuit has been ranked in Fortune's "Top 100 Best Companies to Work For" for the past several years.[8]
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
What Is Niche Marketing
No comments:
Post a Comment