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Business Operations Business Models

How Does Mint.com Make Money (Business and Revenue Model)

The Mint.com business model

How Does Mint Make Money?
Here’s what you should know:
  • What is Mint, and how does Mint work?
  • How does Mint.com make money?
  • Subscription Revenue (Mint Premium)
  • Referral Fees
  • Advertising Revenue
  • Bill Negotiation Service
  • Mint Subsidiaries, Acquisitions, and Exits
  • Mint profit and revenue
  • What is the Mint business and revenue model?
  • Mint funding, net worth, and valuation

How does Intuit Mint, or Mint.com, make money and how is it free to use? Well, here is a full, in depth, breakdown of their four (4) revenue streams and the different products and services they offer, as well as the Mint business model, their year over year revenue, and how Mint works.

What is Mint, and how does Mint work?

Intuit Mint, also known as Mint or Mint.com, is a personal financial management software used for budget planning and tracking.

Founded in 2006 by Aaron Patzer, Mint went on to later get acquired by Intuit for a reported $170 million on September 14, 2009.

Since that time, Mint now has more than 30 million users budgeting their money with Mint.

So, how does Mint.com work? To use Mint, users can start by first either downloading their mobile app on the Apple App Store or Google Play store; or by visiting their website and creating an account.

Once signed up, they can customize their dashboard by linking to their financial accounts; such as their bank accounts, credit cards, retirement accounts, loans, and assets. Where they can then accurately track their debt to income ratio, net worth, and more.

Some of Mint’s competitors include Personal Capital, Dave, Betterment, Charles Schwab, Digit, and other personal finance apps.

Mint App in Apple App Store | Mint Business Model | How Does Mint Make Money? | How Does Mint Work?
Source: Apple App Store | Intuit Mint

How does Mint.com make money?

According to Mint, Mint is the #1 most downloaded personal finance app with over 30 million Mint users. So how does Mint.com make money off of all these users?

Below is a breakdown of how much money Mint.com makes and its revenue model. Including all revenue streams and how much they charge for their services.

Here are the 4 ways of how Mint.com makes money in 2022

Mint.com has a revenue model that makes money in four (4) ways; subscription revenue, ad revenue, referral fees, and through their bill negotiation service.

#1. Subscription Revenue (Mint Premium)

One of the ways Mint.com makes money is through their subscription membership, Mint Premium.

Though Mint is free to use, Mint offers two (2) subscription tiers that include additional perks and features that the free version does not.

For $0.99 per month, users can get rid of the in-app ads. While the $4.99 per month tier offers the same ad free experience plus much more; such as the ability to see projected monthly spending, help with managing / canceling subscriptions, and more.

Mint Pricing:

  • 0.99 to $4.99 per month (depending on the plan)
Mint Pricing | Mint Business Model | How Does Mint Make Money? | How Does Mint Work?
Source: Intuit Mint

Note: Mint.com has over 30 million users, but it’s unclear how many of those are premium paying users.

#2. Referral Fees

Mint.com also makes its money by earning commissions, or referral fees, through its partnering affiliates.

How does Intuit Mint make money from referrals? Mint.com makes money every time a Mint affiliate simply shows up at the top of an offers section for credit card, loan, insurance, and banking comparisons. Though it’s unclear how much money Intuit Mint makes for this.

Unlike most referral agreements, Mint does not mention in their “advertiser / partner disclosure” that their compensation is based on the sign-ups, applications submitted, leads, etc. that Mint generates for a partnering lender or institution.

Mint Fees | Mint Business Model | How Does Mint Make Money? | How Does Mint Work?
Source: Intuit Mint

#3. Advertising Revenue

In addition to subscription and referral revenue, Mint.com makes money through ad revenue by placing ads on parts of their website, app, and subscriber emails.

Because Mint offers its services for free at no cost to the user, Mint monetizes its freemium tier with ads. Although users have the option to get rid of ads altogether by upgrading to a Mint Premium subscription, as we talked about above.

#4. Bill Negotiation Service

In January 2022, Mint.com introduced a new service to its Mint users called Bill Negotiation.

Bill Negotiation is a service in which Mint partnered with Billshark, a Mark Cuban backed company, which tries to negotiate a lower bill with providers, on the customers’ behalf.

The way it works is; if Billshark is not successful in lowering a customer’s bill, they take nothing. But if the negotiation is successful, Billshark takes a cut of how much they saved a customer for the next 24 months.

How much does Billshark cost? Billshark charges 40% of the amount they saved for the customer. If they cannot pay for it upfront, they also offer payment plans which cost $9 to set up. It’s unclear how much of that 40% is split between Billshark and Mint.

How much does Bill Negotiation Service Cost?
Source: Intuit Mint

Note: Mint’s bill negotiation service is not included with the Mint premium membership and is a separate charge / service.

Mint Subsidiaries, Acquisitions, and Exits

Aside from Mint being acquired by Intuit for $170 million, Mint has made its own investments as well.

To date, Mint has made a total of 1 investment.

Mint profit and revenue

Neither Intuit nor Mint has not released any official reports in regards to company earnings.

Note: Because Intuit Inc., parent company of Mint, is a publicly traded company, under the Securities Exchange Act of 1934, they must file continuous financial filings with the U.S. Securities and Exchange Commission (SEC). You can find all of Intuit’s publicly released financial reports, including annual reports, through Intuit’s investors section on their website.

What is the Mint business and revenue model?

Mint.com makes money through a few revenue models that they combine within their company, they are:

  • Freemium (upselling) business model
  • Subscription business model
  • Fee for service (FFS) business model
  • Commission based business model
  • Advertising business model
  • B2B2C (partnerships) business model

Mint funding, net worth, and valuation

According to Mint’s Crunchbase profile, Mint has raised $31.8 million over 5 rounds.

On September 14, 2009, Mint was acquired by Intuit for $170 million, per reports.