Online Wiz, 29, Sells Firm for $170M
Aaron Patzer makes a mint when Intuit buys his finance site
By Rob Quinn,  Newser Staff
Posted Dec 3, 2009 2:00 AM CST
"The corporate campus seems so quiet," said. "A start-up is overflowing with energy. Here it's more subdued. They've got these high, very depressing cubicles."   (Mint.com)

(Newser) – Aaron Patzer recently joined the ranks of America's under-30 tech multi-millionaires when rival firm Intuit snapped up his Mint.com online personal finance tool for $170 million. "It was a jaw-dropping moment" when Intuit—which is transferring its 43 million Quicken users to Mint—made the offer, Patzer tells the New York Times.

Patzer, who has now joined Intuit as a vice-president, says he's sure another young person is already working on a tool to replace Mint. "In a technology company, if you let up just a couple of years in your innovation, that’s all the gap a competitor needs. That’s what happened with Intuit. They ignored and neglected Quicken from about 2002 to 2008, and that was enough of a gap to give rise to Mint. If I back off even for a second, someone is going to come along with something better."
 

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