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TechCrunch40 winner…

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Here is an excerpt from Ars Technica coverage:

Another standout was the winning company, Mint. Mint links to your banking accounts in the same manner as Quicken or Microsoft Money and provides a number of statistical analyses to provide helpful services. One of its main services is the ability—much like Quicken and its ilk—to drill down into your aggregated spending habits and see where your money is going and how that trend changes over time. An example in its demonstration was clicking into food-related expenses to expose a breakdown of groceries and eating out. There are a number of notification features that permit you to receive SMS or e-mail alerts when your account balances reach a certain level, abnormal spending, as well as tools to help you save money.


While Mint’s service to you is free, they look to generate revenue by saving their users money. This works by analyzing your spending and recommending deals to you, from which Mint gets something of a referral fee. For example, if Mint notices you spend a lot of money traveling, it will recommend to you a credit card that gives you the maximum amount of airline miles. If it notices you’ve got a particularly high interest rate, or if there is a card out there with an interest rate below what you’ve currently got, it will offer those up. What remains to be seen—Mint just launched today—is if this business model will actually work. The “save me money” portion of the web site is hidden in another section of the site, and it seems rather unlikely that users would deviate from the “main” part of the site so they can be pitched with credit card offers, even if the pitches are highly targeted.


Written by gooddealz

September 19, 2007 at 3:45 pm

Posted in News Only

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