Friday, August 28, 2009

Many Changes at Mint.Com


Earlier this month Mint.com received another $14 million in series C funding. This round was led by DAG Ventures, and includes Founders Fund. Already investing in Mint are Benchmark Capital, Shasta Ventures, First Round Capital, and Sherpalo Ventures.

Mint.com doesn’t disclose it’s revenues, but Aaron Patzer, CEO told TechCrunch earlier this month that revenue is up over eight times year over year.

Mint has 1.4 Million registered users, tracking $175 billion in transactions and $47 billion in assets.

Also this month, Mint has offered a new improved Web site to its users. Improvements include better graphing and trending tools as well as the ability to budget for income as well as expenses—which will better help users to project cash flow. Mint now has sixteen graphs that can show you the way around your personal finances.

The budgeting tools have also improved to include an “everything else” category (showing your spending in non-budgeted categories). Also, amounts can be rolled over in Mint from one month to the next. Refreshing indeed!

I’m especially enjoying the new traffic-signal type alert system that shows my budget categories as “All Good,” “Slow Down” and “Over Budget,” in the appropriate red, yellow or green, but responses on the Mint Blog are showing that many readers want the old “bar system” graphic returned (yes, it is helpful, so I can’t blame them).

The iPhone app came out a while ago, but there isn’t one yet for us Blackberry users, I’m hoping that will come soon.

Also, Mint is wisely beginning to utilize some of the vast amounts of consumer data that is available. Since membership is anonymous Mint users like myself don’t have to feel outraged, but companies can study consumerism trends from the data accumulated by Mint. This use will likely help to keep Mint free to users, and profitable, the elusive golden egg that seems to prove so troublesome for so many of these internet finance startups.

Jessica Ward is a freelance writer based in Seattle, Wash. She writes on money, family and life at The Pennywise Family and DebtKid.

4 comments:

小橋川 純苔 said...

$1.4 Million registered users?

:-)

JessicaW said...

Ha ha! Good catch, shall fix now. :)

Anonymous said...

Why did you delete the post on LC's milestone?

JessicaW said...

Anon--I pulled it down for further fact-checking. Someone questioned something in the post, so I pulled it down until I could get further verification. I will re-post it today. Thanks for your interest