Read on Twitter
In September 2007 Mint took on Microsoft.
2 years later Mint sold to Intuit for $170M and Microsoft shut down their Mint competitor.
Here& #39;s Mint& #39;s pitch deck and how you could tell they would be a smashing success
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
2 years later Mint sold to Intuit for $170M and Microsoft shut down their Mint competitor.
Here& #39;s Mint& #39;s pitch deck and how you could tell they would be a smashing success
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">" title="In September 2007 Mint took on Microsoft.2 years later Mint sold to Intuit for $170M and Microsoft shut down their Mint competitor.Here& #39;s Mint& #39;s pitch deck and how you could tell they would be a smashing successhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">" class="img-responsive" style="max-width:100%;"/>
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& #39;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& #39;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& #39;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& #39;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 https://abs.twimg.com/emoji/v2/... draggable="false" alt="🏡" title="Haus mit Garten" aria-label="Emoji: Haus mit Garten">
This is a great slide to have in your deck.
In every investors head is 5 reasons why something won& #39;t work.
Say the reasons first AND what you& #39;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& #39;t work.
Say the reasons first AND what you& #39;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& #39;t work.Say the reasons first AND what you& #39;re doing to mitigate them.Mint knew saying they were taking on Microsoft sounded crazy. Maybe they were... but it worked" title="6/ Defend https://abs.twimg.com/emoji/v2/... draggable="false" alt="🏡" title="Haus mit Garten" aria-label="Emoji: Haus mit Garten">This is a great slide to have in your deck.In every investors head is 5 reasons why something won& #39;t work.Say the reasons first AND what you& #39;re doing to mitigate them.Mint knew saying they were taking on Microsoft sounded crazy. Maybe they were... but it worked" class="img-responsive" style="max-width:100%;"/>
7/ Where the Rubber Meets the Road
Most of Mint& #39;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& #39;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& #39;re also not a first mover, that& #39;s good, it& #39;s not too late to follow me: @Adam_Ha_Yes
Every Monday and Wednesday I& #39;m tweeting breakdowns like this.
Thanks for reading! RT are greatly appreciatedhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🙏" title="Gefaltete Hände" aria-label="Emoji: Gefaltete Hände">
Every Monday and Wednesday I& #39;m tweeting breakdowns like this.
Thanks for reading! RT are greatly appreciated
