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How Credit Karma, acquired amid COVID chaos, fared in its first year under Intuit



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February 24, 2020, is a day Ken Lin will never forget. The Credit Karma CEO was about to announce that the company he founded 13 years earlier was about to be acquired for more than $7 billion. Meanwhile, the stock market was in free fall.
“I remember waking up and the Dow futures were down something like 600 points because the COVID pieces were starting to hit the market,” Lin said. “I’m up at 5 o’clock in the morning, the Dow is flashing red … and we’re all like, ‘Are we going to do this?’”

“What had been a very profitable business for a very long time is all of a sudden very unprofitable, because you can’t pivot on a dime. We had a lot of decisions to make.” Ken Lin, Credit Karma CEO

Markets were …

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