Curtains for Quicken?
The desktop financial management software Quicken from Intuit has been the leader in its area for a long time. Microsoft once tried to buy Intuit but was blocked by the US Justice Department. Microsoft then tried to compete with its Money program but Microsoft Money never managed to make a serious dent in Quicken’s market share and Microsoft finally gave up. However, over the years Quicken has gotten increasingly complicated and Intuit has annoyed many with its policy of forced obsolescence.
In recent years competition from Web based programs has grown and Intuit bought one of the major offerings called Mint. Now there is speculation that Quicken on the desktop may have reached the end of its days. According to Rafe Needleman at CNET:
Conventional wisdom is that Intuit’s acquisition of the personal finance Web service Mint will mean the end of the line for the company’s standalone software app, Quicken. Upstart Mint, which is being acquired by Intuit for $170 million, has a personal finance product more in line with the times, with a younger demographic, a working business model, and a passionate CEO, Aaron Patzer, who’s slated to take over the Quicken product line at Intuit once the acquisition closes. It doesn’t look good for the old desktop app, Quicken.
Quicken 2010 is just out and presumably it will be some time before any big changes are seen.
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