Abstract:
In this paper we will discuss about the recent business deal filed by Mint, the proprietor of personal financial management applications portal Mint.com. The announcement was made in March 2008. It received a 12.1 million dollar investment from Benchmark Capital along with First Round Capital and Shasta Ventures, the other two previously existing investors. Mint will use the money to develop some more functionality in its web portal.
Mint announced its recent business deal with Benchmark Capital in March 2008. The company received a 12.1 million dollar investment from Benchmark Capital. The other previously existing investors were First Round Capital and Shasta Ventures.
Mint is the proprietor of Mint.com, the free web portal for "personal financial management applications". It is very easy to use, only the viewer has to provide a valid email-id. The back-end functions are run by Mint. The company was established in 2007 and since then, over 160,000 users have been using Mint.com.
Currently the capital amount of the company has reached upto 10 billion dollars. Mint also has introduced several new products recently, for example, "SpendSpace", a spending comparison tool. The management team of the company consists of some highly experienced professionals from the field of software and finance.
Benchmark Capital, established in 1995, is used to empower the small but potential entrepreneurs, who also come up with new ideas, to make big technology companies. It has invested already in some big franchise organizations like, Juniper Networks, eBay, Red Hat, Amazon, AOL, Prosper to name a few. Currently, the company is managing over 3 billion dollars in venture capital.
Shasta Ventures, situated in Menlo Park, California, is basically a venture capital company. It usually invests in those technology-based companies who provide unique and innovative technological products and services to the customers. Its current capital amount is more than 200 million dollars. The company's investment portfolio consists of some big names like, BabyCenter, LogoWorks, Blue Nile,
LoopNet etc.
Through this deal, Benchmark has expanded its investment portfolio of web 2.0 organizations. Mint will use this money to fund its several upcoming new projects. The company officials said that this deal would help the company to facilitate Mint.com with some new and exiting features.