Mailchimp

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Mailchimp
TypePrivate
IndustryEmail marketing
Founded2001; 20 years ago (2001)
FoundersBen Chestnut
Mark Armstrong
Dan Kurzius
HeadquartersPonce City Market, Atlanta, Georgia, U.S.[1]
Key people
Ben Chestnut (CEO)
ProductsEmail marketing
Revenue
Number of employees
800+[4]
ParentIntuit [5]
DivisionsTinyLetter
Websitewww.mailchimp.com

Mailchimp is an American marketing automation platform and email marketing service,[6] used by businesses to manage their mailing lists and create email marketing campaigns and automations to send to customers.[7] Mailchimp is the trading name of its operator, Rocket Science Group, an American company founded in 2001 by Ben Chestnut and Mark Armstrong,[8] with Dan Kurzius joining at a later date.[9]

History[edit]

Prior to Mailchimp, Chestnut and Armstrong began working together on a series of projects, including an e-greetings website. In 2001, they launched MailChimp as a side project earning a few thousand dollars a month, named after one of their most popular e-greetings card characters.[10] Mailchimp began as a paid service and added a freemium option in 2009. Within a year, its user base had grown from 85,000 to 450,000.[11] By June 2014, it was sending over 10 billion emails per month on behalf of its users.[12] According to the statistics, more than 600 million emails are sent through the platform every two days.[13]

In 2016, Mailchimp was ranked No. 7 on the Forbes Cloud 100 list.[14] In February 2017, the company was named one of Fast Company's Most Innovative Companies of 2017.[3] In August 2017, It was reported that Mailchimp would be opening offices in Brooklyn and Oakland, California.[15]

In February 2019, Mailchimp acquired LemonStand, a smaller competitor.[16] Later in 2019, the company announced its annual revenue would reach $700 million. Mailchimp later announced their plans to shift from mail distribution into offering "a full marketing platform aimed at smaller organizations." This shift includes allowing customers to record and track customer leads within the platform, build landing pages and websites, and run ad retargeting advertisements on Facebook and Instagram.[17] To this end, Mailchimp acquired the London-based media and magazine company, Courier, in March 2020, with the stated goal of international growth. The magazine has a readership of 100,000 readers in more than 26 countries.[18]

The Mailchimp founders[19] have become notoriously known as the poster faces[clarification needed] for a growing list of successfully bootstrapped startups[20] in that it had required no outside funding, had no plans for an IPO and had said no to all the companies that have tried to acquire it for 20 years.[21] However, on August 31, 2021, Bloomberg reported that Intuit was in talks with Mailchimp about the possible acquisition of the email marketing firm.[22]

On September 13, 2021, Intuit confirmed it would be acquiring Mailchimp for a valuation of approximately $12bn in cash and stock. [23]

Marketing campaigns[edit]

As an early podcast advertiser, Mailchimp sponsored the launch of Serial, a podcast exploring a murder case over multiple episodes. The ad became memorable for its inclusion of an unscripted mispronunciation of the company's name, as spoken by a 14-year-old girl from Norway waiting in line for an iPhone 6.[24][25] The ad has been parodied and "MailKimp" became a meme.[26][27] In response, Mailchimp bought the domain name mailkimp.com and redirected traffic to mailchimp.com.[25]

In 2018, Mailchimp underwent a brand redesign to help visually demonstrate an evolution from an email marketing tool to a larger marketing platform. This redesign included an updated logo, colour palette, typeface, new imagery and illustrations. It also included an update to the Mailchimp wordmark, as prior to this rebrand, Mailchimp was referenced as "MailChimp" with an uppercase "C".[28]

Mandrill controversy[edit]

In February 2016, Mailchimp announced it was merging Mandrill transactional email service into Mailchimp as an add-on feature, and gave customers 60 days' notice to switch to the new pricing structure or find an alternative service platform.[29] The new pricing structure required a paid Mailchimp plan before being able to purchase Mandrill credits, resulting in customers paying for two products in order to access Mandrill.[30]

Previously, customers were able to purchase Mandrill credits for sending emails without signing up on Mailchimp. The credits were originally priced at $9.95 for 25,000 emails but increased to $20 for the same number of emails under the new pricing scheme. In addition to needing to purchase Mandrill credits, customers now need to be on a paid Mailchimp monthly plan (the minimum monthly plan being $10 a month), even if the customer has no need for Mailchimp services and only wants access to Mandrill. Mandrill was later renamed Mailchimp Transactional.[31]

See also[edit]

References[edit]

  1. ^ "Ponce City Market". poncecitymarket.com. Retrieved 2019-03-28.
  2. ^ "Want Proof That Patience Pays Off? Ask the Founders of This 17-Year-Old $525 Million Email Empire". Inc.com. 11 December 2017. Retrieved 2018-05-29.
  3. ^ a b "Why MailChimp Is One Of The Most Innovative Companies Of 2017". Fast Company. 2017-02-13. Retrieved 2018-05-29.
  4. ^ "Mailchimp's About Us". Retrieved 2018-05-29.
  5. ^ "Rocket Science Group". Archived from the original on 2018-05-20. Retrieved 2012-10-05.
  6. ^ Park, Lloyd (4 February 2021). "Mailchimp Review, Pricing & Features". SoftwarePundit. Retrieved 2021-02-18.
  7. ^ "So, What Exactly Is Mailchimp And Why Do You Need It For Email Marketing". AnnexCore. 15 February 2021. Retrieved 2021-09-20.
  8. ^ Grantham, Russell. "'Everything came and went too fast,' dot-com vet says". Atlanta Journal Constitution (2000–12–03).
  9. ^ Manjoo, Farhad (2016-10-05). "Mailchimp and the Un-Silicon Valley Way to Make It as a Start-Up". The New York Times. ISSN 0362-4331. Retrieved 2017-06-07.
  10. ^ Konrad, Alex. "The New Atlanta Billionaires Behind An Unlikely Tech Unicorn". Forbes. Retrieved 2020-05-08.
  11. ^ Ben (2010-09-27). "Going Freemium: One Year Later | Mailchimp Email Marketing Blog". Blog.mailchimp.com. Retrieved 2013-06-17.
  12. ^ "Mailchimp Hits Milestone 10 Billion Emails Per Month; Adding Headcount and Office Space". Archived from the original on 8 December 2015. Retrieved 8 December 2015.
  13. ^ "Email Marketing Software Comparison: MailChimp vs. GetResponse vs. Constant Contact". bestemailmarketingsoftware.com. 20 January 2019. Retrieved 2020-07-19.
  14. ^ "Forbes Cloud 100". Forbes. Retrieved 29 October 2016.
  15. ^ "Mailchimp to open office in Downtown Brooklyn - Technical.ly Brooklyn". Technical.ly Brooklyn. 2017-08-04. Retrieved 2017-11-02.
  16. ^ "Before breaking up with Shopify, Mailchimp quietly acqui-hired LemonStand, a Shopify competitor". TechCrunch. Retrieved 2019-04-30.
  17. ^ "Mailchimp expands from email to full marketing platform, says it will make $700M in 2019". TechCrunch. Retrieved 2019-05-13.
  18. ^ Swant, Marty (2020-03-03). "Mailchimp Acquires British Bimonthly Magazine Courier". Forbes. Retrieved 2020-03-25.
  19. ^ Kim, Larry (2019-04-10). "10 Fascinating Facts About Mailchimp CEO Ben Chestnut". Inc.com. Retrieved 2020-11-16.
  20. ^ "The Case for Bootstrapping w/Ben Chestnut". WaitWhat. Retrieved 2020-11-16.
  21. ^ "Mailchimp's Ben Chestnut on bootstrapping a startup to $700M in revenue". TechCrunch. Retrieved 2020-11-16.
  22. ^ Baker, Liana; Porter, Kiel; Hammond, Ed (2021-08-31). "Intuit in Talks to Buy Mailchimp for More Than $10 Billion". Bloomberg.com.
  23. ^ "Intuit to Acquire Mailchimp". Business Wire. 2021-09-13.
  24. ^ "The voice from the MailChimp ad has been revealed". EW.com. Retrieved 2021-08-08.
  25. ^ a b Epstein, Adam. "How MailChimp's irresistible "Serial" ad became the year's biggest marketing win". Quartz. Retrieved 2021-08-08.
  26. ^ Roe, Mike (November 8, 2014). "Serial: The hottest podcast with the most spot-on parodies". 89.3KPCC. Retrieved November 12, 2014.
  27. ^ Fitzpatrick, Molly (November 6, 2014). "Why are Serial podcast fans so obsessed with Mailchimp?". V[ ]cative. Vocativ. Retrieved November 12, 2014.
  28. ^ Polianskaya, Alina (2018-10-01). "Playful Mailchimp redesign aims to unify brand while encouraging creativity". Design Week.
  29. ^ Williams, Owen (2016-02-25). "In hostile move, Mandrill gives all developers 60 days to switch to paid Mailchimp service". The Next Web.
  30. ^ Nicastro, Dom (2016-02-26). "MailChimp's Mandrill Move Enrages Email Users". CMSWire.
  31. ^ MailChimp (2016-02-24). "Important Changes to Mandrill". Mandrill Email Platform Blog.