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Photo illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images.

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.

Go deeper

How stock images can reinforce racism

Illustration: Shoshana Gordon/Axios

Stock photos surround us in digital and real life — but advertisers, stock image companies and consumers know they have a diversity problem.

Why it matters: Stock photography forms the little-noticed backdrop to our lives, and has the power to reinforce or dismantle our implicit racial biases.

Updated 3 hours ago - Energy & Environment

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm lashed much of the East Coast Sunday and Monday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: Authorities in North Carolina confirmed that two people died in a car crash and that they responded 600 vehicle accidents during the storm on Sunday, per the Washington Post.

Texas abortion law remains in effect after appeals court ruling

Pro- and anti-abortion protesters outside the Supreme Court as arguments begin about the Texas abortion law on Capitol Hill in November. Photo: Jabin Botsford/The Washington Post via Getty Images

A U.S. appeals court transferred a challenge to Texas' law banning most abortions after about six weeks of pregnancy to the state supreme court in a 2-1 vote on Monday evening.

Why it matters: The 5th U.S. Circuit Court of Appeals' decision means the country's most restrictive abortion law can remain in place for the time being.