Mint’s Growth is “Unbelievable”

At Mint we’re all about the data — so allow us to share one more stat with you. Thanks to you, we are well on our way to adding our millionth user. Over the last six months we’ve seen a sizable increase in the number of people using Mint.com to better manage their finances, a response no doubt to the tough economic times we’re in. We know you’re suffering and, if we can’t increase your bottom line, at least we can help you keep an eye on it. Currently, we have over 900,000 users and we’re averaging 4-7,000 new users every day. If this keeps up, we’ll hit this milestone next month, around the time of our 18 month anniversary.

It may even be hard for some people to believe. Below is an excerpt from a letter we received from Intuit, the makers of Quicken and Quicken Online.

“According to Mint.com’s recent advertising, its number of users increased from somewhere in the neighborhood of 600,000 to 850,000 in a very short period of time. While we do not wish to suggest that Mint.com is engaging in false advertising, the substantial difference in claimed user numbers over a short period of time is of some concern. As a result, we’re requesting that you provide us with the substantiation and evidence that you rely upon to support the above referenced claims. In particular, we would like an explanation regarding Mint.com’s use of the term “users.”"

Thanks Intuit for asking. We define a user as someone who has signed up for Mint.com by providing an email, zip code and password, minus any users who have explicitly closed their accounts. This includes people who signed up during our one year beta period, which ended in October 2008.

The table below shows our actual user count on the last day of each month for the past six months, except January which is given as of the 25th.

Mint users have their choice of using Mint.com through the web, email alerts, SMS text-message or our new iPhone app and can check balances, set budgets, receive alerts, bill reminders, money saving tips, or product offers wherever they are.

Our users have been quite vocal about what they’d like to see in Mint.com and we’ve been working hard to add support for additional financial institutions (currently around 7,500 in all) and deliver new product features such as custom categories, and, as of last week, the ability to track your total net worth (including home value), and a new and improved Ways to Save feature, now available to anyone at www.mint.com/save-money.

We couldn’t have achieved this rapid growth without you, our users. So, thanks for your trust and your support and please continue to let us know how we can make Mint.com work best for you.