While investigating Mailchimp, I read that the company never paid out benefits from profit to its employees. Said differently, they were never a profit-sharing company. This made me feel a bit blah about them since I recently found out that profit sharing is actually quite common in some countries such as France.
Mailchimp was sold to software company Intuit Inc. for a cool 12 billion dollars in the fall of 2021. We can therefore say that the two founders, Ben Chestnut and Dan Kurzius, have done very well for themselves. Indeed, they are now extra rich. Or quite possibly filthy rich if you prefer. I guess you could say they deserved it because Ben and Dan really believed in their vision and this product. Indeed, they’ve been involved with the company since the start and never took any venture capital investments.
What is Mailchimp?
Taking a look at their website, Mailchimp is…
At first glance, it is not really clear what they do. Since I used it in the past, I’ll share my opinion.
It is (or it used to be) an online tool to send emails in bulk, mainly newsletters. It feels recent when they also added the option to create simple web pages with sign-ups. A web page that has signup is a simple page with one goal: make people sign up for something and leave their email. This information is then stored on the Mailchimp platform.
Careful with pricing
Next, there is pricing. Honestly, I find it confusing. Numbers are not my strengths per se, so I definitely must remain attentive when studying them. There is a free and a paid version and the subscription scheme is based on the number of subscribers you have. Attention though! There is a specific way in which they count your subscribers.
Study their pricing scheme so you don’t get extra bills. Nowadays they also have something called The Legacy Plan so make sure you are certain about what you need and how much it is going to cost you.
It’s not just Mailchimp, most online platforms have started calculating prices “tailored” to you, solutions which are generally just something they set up (I would assume) to hit their financial goals. An advantage of this technique is also that it makes it easier to hide pricing from the competition.
Other questions and details on what Mailchimp is & isn’t, why it could benefit you, and in which case I wouldn’t recommend it, will come up in the next article, Is Mailchimp the right choice for you? Part 2.