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IT 4-2 Ganzorig. B Bat-Orgil. Kh

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Content <ul><li>About mint.com </li></ul><ul><li>About the founder </li></ul><ul><li>How it all started </li></ul><ul><li>Mint.com </li></ul><ul><li>Competitors – User Base </li></ul><ul><li>Mint now, timeline </li></ul><ul><li>How mint works, why use it </li></ul><ul><li>Investors, Board of Directors </li></ul><ul><li>Awards </li></ul><ul><li>Technology behind the mint.com </li></ul><ul><li>Security / Privacy </li></ul><ul><li>Future … </li></ul>

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About mint.com Mint.com is the #1 personal finance web application . . . <ul><ul><li>See all accounts in one place (4,5 cards) </li></ul></ul><ul><ul><li>Understand & categorize spending </li></ul></ul><ul><ul><li>Set budgets </li></ul></ul><ul><ul><li>Track investments </li></ul></ul><ul><ul><li>Find savings (Ways to Save) </li></ul></ul><ul><ul><li>Educational blog content, forum, video </li></ul></ul><ul><ul><li>Free </li></ul></ul>Helps users gain control over and do more with their money Accessible on the go (iPhone, Android) and across the web (Yahoo!)

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About the founder – Aaron Patzer <ul><li>Founder and CEO, Aaron Patzer </li></ul><ul><li>The visionary and technical mind behind Mint </li></ul><ul><li>Age: 29, started mint when he was 25 (1981/80) </li></ul><ul><li>BS in computer science, computer engineering, </li></ul><ul><li>and electrical engineering from Duke University </li></ul><ul><li>1998-2002 </li></ul><ul><li>MSEE from Princeton, 2002-2004 </li></ul><ul><li>Princeton PhD Dropout </li></ul><ul><li>Worked for IBM and Nascentric (chip simulation software) </li></ul><ul><li>A serial entrepreneur, started web development, online marketing companies </li></ul><ul><li>11+ patens filed or pending, in fields from bioinformatics, to hardware, to networking, to search algorithms, and business logic </li></ul><ul><li>Founded Mint in Mar, 2006 </li></ul>

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<ul><li>Started playing around computer when he was 6 years old </li></ul><ul><li>Started his first business designing web pages when 16 </li></ul><ul><li>Used MS Money, Quicken to do the bookkeeping </li></ul><ul><li>He claims he was really good at one thing: algorithms </li></ul><ul><li>Awards: </li></ul><ul><li>30 young entrepreneur under 30, #5, 2008 ?? Inc ?? </li></ul><ul><li>Top 40 executives under 40 by Fortune </li></ul><ul><li>One of the top 5 “Money Heroes” of 2008 </li></ul><ul><li>2008 Tech-Pioneer by the World Economic Forum in Davos </li></ul><ul><li>450 press interviews, including nearly monthly national TV appearances on ABC's &quot;Good Money&quot;, along with frequent guest appearances on &quot;Your Money, Your Business&quot; on Fox Business </li></ul>About the founder – Aaron Patzer

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<ul><li>Don't Just Call Him an &quot;Entrepreneur&quot; </li></ul><ul><li>&quot;I consider myself an inventor first and an entrepreneur second.&quot; </li></ul><ul><li>His Best Advice to Those Who Want to Start Businesses? </li></ul><ul><li>&quot;Stone cold, iron-willed determination. It's going to be long hours and a lot of hard work, but if you have confidence in your product, you will succeed.&quot; </li></ul><ul><li>3 principles for any entrepreneur: </li></ul><ul><ul><li>Solve a real problem </li></ul></ul><ul><ul><ul><li>25 Twitter url shorteners </li></ul></ul></ul><ul><ul><li>Find a big market </li></ul></ul><ul><ul><li>Have a sustainable advantage (technology, design, relationship, experience – not easily replicated) </li></ul></ul>About the founder – Aaron Patzer

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How it all started <ul><li>Aaron Patzer used to do bookkeeping himself </li></ul><ul><li>He got the inspiration for Mint.com in late 2005 after being frustrated with how difficult it was to use the Intuit Quicken product. </li></ul><ul><li>After working successfully at IBM, decided to leave and implement his idea, mar 1, 2006 </li></ul><ul><li>Worked on the idea alone 14 hours a day, 7 days a week for 6 months and engineered the alpha version </li></ul><ul><li>Approached many (50) VCs and angel investors, but could not succeed well </li></ul><ul><li>Showed Josh Kopelman of First Round Capital the prototype in his car, and as he liked it, it took off </li></ul><ul><li>Founded Mint in 2006 </li></ul><ul><li>Sep 2007 TechCrunch40 winner, among 700 startups - $50000, officially launched </li></ul>

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<ul><li>Located in Mountain View, CA </li></ul><ul><li>38 workers, pretty little, huh? </li></ul><ul><li>BTW, Mint means: </li></ul><ul><ul><li>A place where coin is made </li></ul></ul><ul><ul><li>Гаа </li></ul></ul><ul><li>Currently operates in the USA and Canada </li></ul><ul><li>Connect with all the banks, financial institutions in the USA with online banking capability, claimed on the 19 th of April, 2010 </li></ul><ul><li>So 16000 financial institutions, 17M accounts </li></ul><ul><li>As of April, 2010 – registered 3M users </li></ul><ul><li>1M people use daily, 3,000 new users each day </li></ul><ul><li>Tracking #175 billion in transactions, $47 billion in assets and has identified more than #300M in potential savings for its users. </li></ul>Mint.com

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<ul><li>Not only attracted customers by solving a big problem, but also by: </li></ul><ul><ul><li>Good user interface design, hired a very good designer named Jason Putorti </li></ul></ul><ul><ul><li>Leveraged social media pretty well (blog, twitter, video,…), so almost no marketing cost </li></ul></ul><ul><li>World Class Team </li></ul><ul><ul><li>David Michaels - first real “professional”, interviewed in the Kitchen </li></ul></ul><ul><ul><li>VP of Engineering, former Dir. of Engineering at PGP and Sun, security expert </li></ul></ul><ul><li>3 Principles of Personal Finance: </li></ul><ul><ul><li>Spend less than you earn </li></ul></ul><ul><ul><li>Make your money work for you </li></ul></ul><ul><ul><li>Protect your money </li></ul></ul>Mint.com

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Competitors <ul><li>Difficult to use </li></ul><ul><li>Costs money: $30-70 </li></ul><ul><li>Does not save or make user money </li></ul><ul><li> 4 of 5 quit within one month </li></ul><ul><li>Save money, but… </li></ul><ul><li>Manually search for deals </li></ul><ul><li>No insight into your finances </li></ul>20 – 65 M x $30 = $0.6 – 1.8 B User base Rev/user/yr Mint Opportunity

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Mint now <ul><li>Intuit (of Quicken, TurboTax) proposed to Mint 13 th of Sep, 2009 </li></ul><ul><li>Bough mint.com for $170M in 2 nd of Nov, 2009 </li></ul><ul><li>Aaron Patzer became Vice President and General Manager of Intuit’s personal finance group, responsible for mint.com, all Quicken online, desktop and mobile offerings </li></ul><ul><li>$170M in 3 yrs </li></ul><ul><ul><li>3 yrs = 1 yr Development + 2 yr Operation </li></ul></ul>

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Timeline <ul><li>` </li></ul>Left work and founded Mint Developed the full alpha version of Mint late 2005 Mar 2006 Fall 2006 Sep 2007 Sep 2009 Got inspiration for Mint Met Josh Kopelman and Rob Hayes Got funding soon TechCrunch 40 Winner – $40K Officially launched mint.com Got acquired by Intuit for $170M

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How mint.com works <ul><li>Business model : freemium </li></ul><ul><ul><li>Free + premium </li></ul></ul><ul><li>Online Personal Finance Application </li></ul><ul><li>SaaS (Software as a Service) </li></ul><ul><li>ASP (Application Service Provider) </li></ul><ul><li>Everything personal finance related </li></ul><ul><li>Earns money from saving money for user, suggestion </li></ul><ul><li>Users can potentially earn hundreds more in savings using mint.com </li></ul><ul><li>Social media strategy </li></ul><ul><ul><li>Video, blog, forum </li></ul></ul><ul><li>A few minutes to sign up </li></ul><ul><li>Easy to use, handles the bookkeeping for you automatically </li></ul><ul><li>Customers love to use mint over other online banking systems, because it’s easy, fun and engaging </li></ul><ul><li>Earn a small fee from the bank </li></ul>

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<ul><li>Why use mint </li></ul><ul><li>Easy set up </li></ul><ul><li>Easy to use </li></ul><ul><li>Account aggregation </li></ul><ul><li>It's free </li></ul><ul><li>Safe & secure </li></ul><ul><li>Timely alerts </li></ul><ul><li>Easy budgeting </li></ul><ul><li>Achieve your goals </li></ul><ul><li>Helpful graphs </li></ul><ul><li>Accurate analysis </li></ul>Why use mint <ul><li>Why use mint </li></ul><ul><li>See your spending </li></ul><ul><li>Categorization </li></ul><ul><li>Find savings </li></ul><ul><li>Reduce debt </li></ul><ul><li>Avoid hidden fees </li></ul><ul><li>Track investments </li></ul><ul><li>Automatic bookkeeping </li></ul><ul><li>Mobile apps </li></ul><ul><li>Mint on Yahoo! </li></ul><ul><li>Auto Synchronization </li></ul>

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Why use mint <ul><li>How mint helps </li></ul><ul><li>Manage your budget </li></ul><ul><li>Understand investing </li></ul><ul><li>Credit card advice </li></ul><ul><li>Save money </li></ul><ul><li>Pay off debt </li></ul><ul><li>Pay off student loans </li></ul><ul><li>Save for retirement </li></ul><ul><li>Spend less eating out </li></ul><ul><li>Buy a car </li></ul><ul><li>Get ready for taxes </li></ul><ul><li>Find savings </li></ul><ul><li>Credit cards </li></ul><ul><li>Checking </li></ul><ul><li>Savings </li></ul><ul><li>CDs </li></ul><ul><li>Brokerage </li></ul><ul><li>Investment Tools </li></ul><ul><li>Auto insurance </li></ul><ul><li>Life insurance </li></ul><ul><li>401k rollover </li></ul><ul><li>IRA </li></ul>

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<ul><li>Mint Content </li></ul><ul><ul><li>Educational </li></ul></ul><ul><ul><li>Exciting </li></ul></ul><ul><ul><li>Social media approach </li></ul></ul><ul><li>MintLife </li></ul><ul><ul><li>Goals </li></ul></ul><ul><ul><li>Saving </li></ul></ul><ul><ul><li>Investing </li></ul></ul><ul><ul><li>Trends </li></ul></ul><ul><ul><li>How to </li></ul></ul><ul><li>Mint updates </li></ul><ul><li>Mint answers </li></ul><ul><li>Mint + twitter </li></ul><ul><li>Videos </li></ul><ul><li>Financial Terms Glossary </li></ul>Why use mint

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Investors <ul><li>Have attracted over 31M in funding, investments from: </li></ul><ul><li>DAG Ventures – led C series round which closed in Aug 2009 </li></ul><ul><li>Benchmark Capital – led B series funding round, which closed in Mar 2008 </li></ul><ul><ul><li>Portfolio includes MySQL, eBay, Red Hat </li></ul></ul><ul><li>Shasta Ventures – led A series funding round, which closed in Apr 2007 </li></ul><ul><li>First Round Capital – provided first seed round capital in Oct 2006 </li></ul><ul><ul><li>A prominent investor in early state companies, having invested in StumbleUpon among others </li></ul></ul><ul><li>Angel investors: </li></ul><ul><li>Aydin Senkut, Jeff Clavier, Ron Conway, Sy Fahimi, Mark Goines, Geoff Ralston </li></ul>

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Board of Directors <ul><li>Bob Kagle – Benchmark Capital </li></ul><ul><li>Tod Francis – Shasta Ventures </li></ul><ul><li>Rob Hayes – First Round Capital </li></ul><ul><li>Mark Goines – Angel investor </li></ul><ul><li>Aaron Patzer – Founder and CEO, Mint Software </li></ul><ul><li>Board Advisors </li></ul><ul><li>Josh Kopelman – First Round Capital </li></ul>

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Awards <ul><li>Time Magazine's 50 Best Websites, 2008 and 2009 </li></ul><ul><li>Webby Award Winner, 2009 </li></ul><ul><li>People's Voice Winner for Banking/Bill Paying, Webby Awards 2009. </li></ul><ul><li>People's Voice Winner for Financial Service, Webby Awards 2008 and 2009 </li></ul><ul><li>Named a top pick and given 4-stars from Money Magazine, 2008 </li></ul><ul><li>Named one of Kiplinger's best budgeting sites, 2008 </li></ul><ul><li>PC World's Top Rated Online Finance Service, 2008 </li></ul><ul><li>PC Magazine Editors' Choice, 2008 </li></ul><ul><li>PC World 25 Most Innovative Products, 2007 </li></ul><ul><li>TechCrunch40 Best Presenting Company and $50,000 of prize money, September 18, 2007. </li></ul>

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Technology behind the mint.com <ul><li>Mostly Open Source Technology: </li></ul><ul><li>Java, JavaEE, Tomcat, Spring, Hibernate, MySQL, JMS, Linux, COCO </li></ul><ul><li>XMLC, Spring MVC, JavaScript, YUI, Flex </li></ul><ul><li>IntelliJ IDEA, SVN, JIRA, Ant, TeamCity </li></ul><ul><li>PLUS GOOD LOOKING, USER FRIENDLY DESIGN </li></ul>

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Security / Safety /Privacy <ul><li>Bank-level security </li></ul><ul><ul><li>verified by VeriSing, TrustE, Hackersafe and supported by RSA Security </li></ul></ul><ul><ul><li>128-bit SSL security </li></ul></ul><ul><ul><li>24/7 physical security </li></ul></ul><ul><ul><li>Criteria on employment </li></ul></ul><ul><li>Read-only connection with banks </li></ul><ul><ul><li>So even if somebody hacks into your account, he can’t move around money </li></ul></ul><ul><li>Anonymous user </li></ul><ul><ul><li>No name, address, social security number </li></ul></ul><ul><li>Alerts through email and SMS </li></ul><ul><ul><li>Suspicious activity (too large or unusual) </li></ul></ul><ul><ul><li>Timely alert (timely data) </li></ul></ul>

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Mint.com web analytics on Alexa.com <ul><li>Alexa traffic rank – 1876 th </li></ul><ul><li>USA ranking - 412 th , 79% percent of all users accessing mint.com </li></ul><ul><li>Canada ranking – 1519 th </li></ul><ul><li>5% of site visits are through search engine </li></ul><ul><li>Visitors spend roughly 57 seconds on each pageview </li></ul><ul><li>4 minutes on site during each visit </li></ul>

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Mint.com web analytics on Alexa.com

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The Future <ul><li>20M-60M users to register </li></ul><ul><li>As a side business: </li></ul><ul><li>Data – Become #1 Source of Consumer Spending Info </li></ul><ul><ul><li>Data: What bloomberg did for wall st, we want to do for the consumer and the press – democratize consumer spending data </li></ul></ul><ul><li>Mint Answers – #1 Finance </li></ul><ul><li>Q & A forum </li></ul><ul><li>MintLife blog </li></ul><ul><ul><li>#1 Personal Finance Publication </li></ul></ul><ul><ul><li>Content Syndication </li></ul></ul><ul><ul><li>Publish Book </li></ul></ul>