How big is the market for personal finance software in the United States?
In reviewing the 10-k for Intuit a few years back, Quicken was listed under “other services” in revenue and seemed to drive about $100M a year. They are by far the dominant player. Mint has around 1-2M active users that probably drive $10 or so a year in revenue (depends on quality and quantity of leads generated) so assume $10-$20M in revenue. There are others in the space so assume maybe $200M – $300M or a bit more. However, the size of the bill payment market is well over $1B in what banks pay to give some 70 million consumers “free” bill pay. Then there are the billers providing payment services as well. There are also many other players like Yodlee, CashEdge, Pageonce, Experian, etc that sell to consumers, banks or billers personal finance products. The market is very fragmented with features and light product offerings sold through a seemingly endless number of providers. There is also a broader market of daily money managers, CPAs, bookkeepers, private banks and others (several
