M&A Deal Summary

Block Acquires Credit Karma Tax

On November 25, 2020, Block acquired internet software and services company Credit Karma Tax from Credit Karma for 50M USD

Acquisition Highlights
  • This is Block’s 11th transaction in the Internet Software and Services sector.
  • This is Block’s 5th largest (disclosed) transaction.
  • This is Block’s 11th transaction in the United States.
  • This is Block’s 8th transaction in California.

M&A Deal Summary
Date 2020-11-25
Target Credit Karma Tax
Sector Internet Software and Services
Buyer(s) Block
Sellers(s) Credit Karma
Deal Type Divestiture
Deal Value 50M USD

Target

Credit Karma Tax

San Francisco, California, United States
Credit Karma Tax is the consumer tax unit of online based consumer financial services company Credit Karma.

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Buyer(S) 1

Buyer

Block

San Francisco, California, United States

website

Category Company
Founded 2009
Sector Financial Services
Employees12,400
Revenue 17.5B USD (2022)
DESCRIPTION

Block is a financial services and mobile payments company. Block provides a range of services to help businesses manage their payments, including hardware and software solutions for point-of-sale transactions, online payments, and invoicing. The Company's flagship product is the Square Reader, a small device that attaches to smartphones or tablets to enable credit and debit card payments. Block has expanded its offerings to include payroll, loans, and other financial services aimed at helping small businesses grow and succeed. Block was formed in 2009 and is based in San Francisco, California.

DEAL STATS #
Overall 12 of 17
Sector (Internet Software and Services) 11 of 12
Type (Divestiture) 1 of 1
State (California) 8 of 9
Country (United States) 11 of 15
Year (2020) 1 of 1
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Caviar

San Francisco, California, United States

Caviar is a delivery solution for consumers to order food from local eateries with the ability to live-track the order on a map.

Sell $410M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-04 TIDAL

New York, New York, United States

TIDAL is an artist-led global music and entertainment platform that brings artists and fans closer together through unique original content and exclusive events. TIDAL is available in premium and HiFi tiers—which includes Master Quality Authenticated (MQA) recordings as well as Sony’s 360 Reality Audio recordings.

Buy $297M

Seller(S) 1

SELLER

Credit Karma

San Francisco, California, United States

website

Category Company
Founded 2007
Sector Internet Software and Services
Revenue 1.0B USD (2019)
DESCRIPTION

Credit Karma, Inc. is a provider of free consumer credit scores, delivered online and via mobile devices to users on-demand. Credit Karma provides these customers comprehensive, consolidated, and integrated views of their financial condition through credit scores and personalized financial analytics and gives users access to unique offers from consumer financial services companies.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 Noddle

London, United Kingdom

Noddle is a service that provides free, unlimited access to credit scores and reports to people in the UK.

Buy -
Mergr

Product

Company

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