Intuit to buy Mailchimp for $12 billion

Intuit, the maker of TurboTax and QuickBooks, on Monday said that it has agreed to buy email marketing company Mailchimp for $12 billion in cash and stock.

Why it matters: This would be the largest-ever acquisition of a privately-held bootstrapped company, as Mailchimp didn't take any outside funding since its 2001 founding. It's also a huge windfall for the founders of Mailchimp, which opted for profit-sharing instead of stock-based compensation for employees.