Intuit acquires BooRah's search technology
Original post made by Angela Hey on Apr 20, 2009
BooRah helps diners find restaurants and restaurants find customers. Its search technology crawls the web helping consumers evaluate dining establishments. BooRah is a tiny company, with a handful of employees.
Intuit is known for its financial products like TurboTax, Quick Books and Quicken. The company expects fiscal year 2009 revenues, ending July 31st 2009, to be betweeen $3.13 billion to $3.25 billion representing growth of 2 percent to 6 percent.
According to the Census Bureau the US has about 4.5 million firms with 4 or fewer employees and 20 million non-employee businesses, i.e. the owner is self-employed. Many of these businesses already use Intuit's products for accounting. Increasingly these firms need more professional marketing, a need that Intuit is addressing with [Web Link marketing tools]. Acquiring Homestead in 2007, helped Intuit provide wesite creation services. Intuit also offers [Web Link grants] to help small businesses expand.
BooRah's technology can capture select information, like ratings and location, as well as descriptive paragraphs from small business websites. With enough investment, BooRah's technology could help Intuit promote many other types of small businesses besides restaurants. Intuit already provides software and services for finance professionals. Accountants and tax advisors could be found and rated using BooRah's technology.
Intuit is not revealing financial details or its strategy for BooRah. BooRah helps Intuit expand into customer acquisition services for small businesses.
on Apr 20, 2009 at 11:08 pm
Angela Hey is a registered user.
[Web Link Tae Hea Nahm] of [Web Link Storm Ventures], an investor in BooRah says "Intuit purchased the BooRah business for cash and hired all the employees." He believes that BooRah's business and technology will be best commercialized within Intuit.