Intuit has reached a deal to acquire Credit Karma, a company known for offering free credit score checks. The acquisition gives Intuit — which owns TurboTax, Quickbooks, and Mint — another set of consumer-oriented financial products. It also knocks out a potentially serious competitor: Credit Karma has been offering free tax filing services since 2017, possibly taking away customers from TurboTax.
That’s a serious consequence of this merger. Over the past year, Intuit has been highly criticized for its handling of free tax filing, haven been caught actively hiding a tax-filing product it promised the IRS it would give away for free and steering customers toward paid products. It’s theoretically bad news if the company behind those…tech, The Verge, The Verge - All Posts