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Intuit Stage: LBOs and Special Situations Date of Investment: 1989 Web Site : http://www.intuit.com
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Intuit, located in Mountain View, California, is the world's leading vendor of personal finance software, small business accounting software, and personal and professional tax preparation software for personal computers. Warburg Pincus became an investor in Intuit as a result of Intuit's acquisition of ChipSoft, the original company in which Warburg Pincus invested in 1989. Between 1989 and 1993, ChipSoft's sales increased from $13 million per year to in excess of $70 million, and it became a public company in April 1992. Warburg Pincus distributed its shareholdings in 1995.
