Started: October 2006
Located: Mountain View, California
Geography: North America
Market: Online Personal Finance Management
Products: Money Management
Customers: Over 1 million users
I asked Aaron Patzer, Mint.com’s Chief Executive Officer a few questions about his business and his view of the SaaS market in 2009.
Did you start out as a Software-as-a-Service company?
No, Mint.com started out as – and primarily is – a consumer facing website.Simply because of the way it is built – to scale to millions of users, open source platform, and web services backend – it is quite easy and natural to do SaaS.
Why do your customers use Mint?
Mint.com lets users see all their bank accounts, credit cards, investments, and loans together in one place.Without any data entry (or cost… because Mint.com is free), users can see how much money they have, how much they owe, where their money is going, get bill reminders and alerts, track their investment performance versus the market, find lower interest rates on their financial products and better prices on the things they buy most.
What do you see as the key trend emerging in the SaaS industry?
Almost all software will eventually move to the Cloud.Personal finance has been no different.
What is your outlook for 2009?
Good.Because of a bad economy, more people need to track and manage their finances.That means our sign up at Mint.com rate has tripled since the financial crisis hit.