Intuit to phase out Quicken Online in favor of

When financial software maker Intuit acquired, there was quite a bit of uncertainty as to what would happen to the popular online financial service. More often than not, when a startup is acquired by a large, established company, the startup is given just enough rope to hang themselves.

Fortunately, Intuit appears to see plenty of value in Mere days after the acquisition was completed, Intuit has announced plans to phase out Quicken Online in six to nine months in favor of its new Web service.

The catalyst for this decision was the user base for Quicken Online and how it compared to’s. While Quicken Online has 1.5 million registered users—slightly less than’s 1.7 million—Quicken has only 100,000 individual users logging on each month. has nearly seven times that.

As part of the acquisition deal, Intuit has put CEO Aaron Patzer in charge of Intuit’s own desktop software and online services. Patzer has already announced plans to give the ability to enter cash transactions and uncleared checks, two features of Quicken Online that lacked.

Beyond online services, Patzer’s thinking of new ways to access services on the desktop—good news, perhaps, for the long-awaited Quicken for Mac update? iPhone users already enjoy the convenience of the iPhone app, but Patzer is looking into using an offline storage solution for in the form of a rich Internet application (RIA) runtime like Google Gears, Adobe AIR, or Microsoft Silverlight. Ideally, this will allow users to easily move their recorded information into other areas, like financial planning or taxes. That will conveniently help save time and aid Intuit in their quest to take over the financial-deciding universe.

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