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In September 2007 Mint took on Microsoft.
2 years later Mint sold to Intuit for $170M and Microsoft shut down their Mint competitor.
Here's Mint's pitch deck and how you could tell they would be a smashing success
2 years later Mint sold to Intuit for $170M and Microsoft shut down their Mint competitor.
Here's Mint's pitch deck and how you could tell they would be a smashing success
1/ Be Wallet Adjacent
"Mint makes money when users make money."
Businesses that are tied to financial gain win.
@mint was born to help people understand and improve their financial situation.
This created a flywheel effect where the better their users do the more they make
"Mint makes money when users make money."
Businesses that are tied to financial gain win.
@mint was born to help people understand and improve their financial situation.
This created a flywheel effect where the better their users do the more they make
2/ Creating Financial Clarity
"WTF I spent $200 at Chipotle this month?"
In 5 minutes Mint gave users a financial snapshot all their money.
Microsoft money was complicated
Mint onboarded people in two screens.
Focus on core functionality and getting users to the "Aha" moment
"WTF I spent $200 at Chipotle this month?"
In 5 minutes Mint gave users a financial snapshot all their money.
Microsoft money was complicated
Mint onboarded people in two screens.
Focus on core functionality and getting users to the "Aha" moment
3/ Creating Buzz
@noahkagan said Mint had more traffic than all of their competitors combined... before they even launched!
How?
The created the #1 financial blog.
They were PR machines.
AND they were doing SEM for a $1 CAC.
Plus they used a Pokemon in their deck.
@noahkagan said Mint had more traffic than all of their competitors combined... before they even launched!
How?
The created the #1 financial blog.
They were PR machines.
AND they were doing SEM for a $1 CAC.
Plus they used a Pokemon in their deck.
4/ Last Movers
Wesabe was first to market.
Mint was late.
Mint won because:
1. User experience
- Mint had a simple product (that worked)
2. User acquisition
- Wesabe didn't do paid marketing
- Mint grew at 5x their rate
3. Moved quick
- Mint outsourced some software dev
Wesabe was first to market.
Mint was late.
Mint won because:
1. User experience
- Mint had a simple product (that worked)
2. User acquisition
- Wesabe didn't do paid marketing
- Mint grew at 5x their rate
3. Moved quick
- Mint outsourced some software dev
5/ Plan your Win
Mint knew they wanted to be acquired.
They didn't need to be the next Google.
Buying Mint made sense for top of funnel acquisition for @Intuit and @Microsoft
The key to getting there was patents and user acquisition. They executed both flawlessly.
Mint knew they wanted to be acquired.
They didn't need to be the next Google.
Buying Mint made sense for top of funnel acquisition for @Intuit and @Microsoft
The key to getting there was patents and user acquisition. They executed both flawlessly.
6/ Defend 
This is a great slide to have in your deck.
In every investors head is 5 reasons why something won't work.
Say the reasons first AND what you're doing to mitigate them.
Mint knew saying they were taking on Microsoft sounded crazy. Maybe they were... but it worked
This is a great slide to have in your deck.
In every investors head is 5 reasons why something won't work.
Say the reasons first AND what you're doing to mitigate them.
Mint knew saying they were taking on Microsoft sounded crazy. Maybe they were... but it worked
7/ Where the Rubber Meets the Road
Most of Mint's revenue was coming from advertising.
@NerdWallet is doing $150M from referral deals.
Mint could have drastically scaled their referral program.
P.S. That 3M investment for a 15% stake became a 8.5X return in 2 years.
Most of Mint's revenue was coming from advertising.
@NerdWallet is doing $150M from referral deals.
Mint could have drastically scaled their referral program.
P.S. That 3M investment for a 15% stake became a 8.5X return in 2 years.
If you're also not a first mover, that's good, it's not too late to follow me: @Adam_Ha_Yes
Every Monday and Wednesday I'm tweeting breakdowns like this.
Thanks for reading! RT are greatly appreciated
Every Monday and Wednesday I'm tweeting breakdowns like this.
Thanks for reading! RT are greatly appreciated
