More acquisitions for Intuit as it continues to build out its cloud services platform for small and medium businesses. It has bought itDuzzit — a Chicago-based startup that provides tools for businesses to integrate different web and mobile apps with each other: think IFTTT for enterprises. Terms of the deal were not disclosed, but it looks like that product will continue to live on, and its two co-founders, Joe Dennis and Steve Mendoza, will join Intuit.
The idea here is that Intuit will add itDuzzit to its QuickBooks platform, which provides accounting and increasingly many other adjacent services to businesses. “[itDuzzit's] technology benefits the entire QuickBooks Online ecosystem: third-party developers, accountants and small businesses,” noted Avi Golan, VP and GM, Intuit Partner Platform, in a blog post announcing the news. “This acquisition brings us closer to achieving our mission of helping every small business app connect to the QuickBooks platform.”
ItDuzzit competes against the likes of Zapier, a YC alum that counts Bessemer Venture Partners, DFJ and others among its investors. The dozens of apps that can be linked up using the itDuzzit include the likes of Asana, Box, Coinbase, Freshbooks, PayPal and Shopify, with promises of further apps to come. What it essentially means is that while Inuit may not have its own hand in each of those pies (yet), it will give its customers an easy way of using them on its platform and with Intuit software regardless.
The acquisition follows after a number of other Intuit acquisitions also aimed at expanding the features and functionality the company offers to small businesses and those who develop products for them. They include buying mobile payment and bill management company Check for $300 million and inventory management service Lettuce Apps for $30 million.