Quicken

In 1983, a chance meeting at Stanford University brought together Scott Cook, a marketing mind from Procter & Gamble, and Tom Proulx, a computer science student. Cook was frustrated by the tedious process of managing personal finances and envisioned a software to automate it. This led to the creation of Intuit and their flagship product, Quicken, one of the first fintech products ever. Facing a tough market for software funding, they initially targeted banks for distribution. By 1988, Quicken had become the number-one selling consumer software product. The company's journey took a significant turn when it was acquired by Intuit. For decades, Quicken was a cornerstone of Intuit's portfolio. However, as Intuit shifted its focus towards cloud-based services like QuickBooks and TurboTax, it made a strategic decision to divest. In 2016, Quicken was sold to the private equity firm H.I.G. Capital and began operating as an independent company. This new chapter saw Quicken transition to a subscription model and introduce web and mobile companion apps. The ownership changed hands again in 2021 when Aquiline Capital Partners, a firm specializing in financial technology, acquired a majority stake, with plans to further the company's growth.