Intuit to Acquire TSheets: It’s About Time

Press Release: 

Intuit Inc. (Nasdaq: INTU) is taking the next step in making the QuickBooks platform the smarter way to do business by signing an agreement to acquire TSheets, a leading platform that small and medium businesses, self-employed, and accountants use to automate time tracking and scheduling for them and their workers.

Intuit QuickBooks leverages the world’s largest small business and self-employed ecosystem to simplify and automate key business tasks, such as payroll, invoicing, and payments. With more than 12,000 customers already using and loving QuickBooks and TSheets side-by-side today, bringing them together for millions of small businesses will make manual time tracking a thing of the past. They will have a single, seamless solution to track their time, streamline their invoicing and simplify paying their workers with complete confidence.

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An Open Letter From Matt Rissell (full letter here)

An open letter to TSheets Family and Friends – and every startup out there who’s swinging for the fence.

Today marks a significant milestone for all of us: TSheets has signed a definitive agreement to be acquired by Intuit, one of Silicon Valley’s most prominent tech companies and one of the most successful small business software companies ever to exist on the planet. But wait, that sounds so formal… I think the headline should read: “@Intuit sent @TSheets a tweet that said, check the box if you  [❤]  me” and @MattRissell replied, “Yes.” smile

Some people say work hard enough to where your idols become your competitors. I say work hard enough to where your idols become your teammates. I could not be more excited about what joining Intuit will mean for our customers, employees, and partners, and together, the potential to help millions of small businesses around the globe.

To our valued customers: TSheets and QuickBooks are already like peanut butter and jelly — and the recipes coming together will only mean great things for you. Similar to Intuit, TSheets has built an amazing product, created a strong company culture, and most importantly built a reputation on outstanding customer support. TSheets and Intuit share an obsessive customer-centric vision. Together, we will provide better tools to run your businesses and make your lives easier.

To our TSheets employees: A new chapter of our journey has just begun. Our team of 260 rock stars — who have made TSheets what it is today — will unite with 8,000 like-minded and brilliant individuals who share the same passion to innovate and deliver excellence. Our mission to help small businesses succeed will continue, and we’re going to do it together from right here in Eagle, Idaho.

To our accounting partners and friends: We will transition from 16,000 Accounting Partners who get to use TSheets for free, to be available to over 600,000! We are excited for what this means for your businesses and your clients as you continue to champion their cause and provide them with the real business insights they need to thrive.

To our partners: TSheets will remain an open platform by maintaining and building partnerships with other best-of-breed solutions. We believe that together with Intuit we will accelerate our ability to deliver seamless end-to-end experiences for the customers we mutually serve.

To our Treasure Valley Community: We’re proud of our roots and to call Eagle, Idaho our home. Once we’re an Intuit company, we will continue to be a part of — and invest in — our local economy, adding jobs and continuing our community involvement.

People have asked me if this is what I have always dreamed of, and this may surprise you… my answer is no. While I am incredibly grateful for the opportunity this provides my team, my company, and my family, it is still only a milestone. The TSheets Team will just be getting warmed up when we become a part of Intuit!

After this deal is closed, rest assured, I’m not going anywhere! I love to build companies and teams that accomplish the un-accomplishable. I’m fortunate and humbled to continue growing TSheets as part of Intuit, led by CEO, Brad Smith, a friend and mentor, with the Small Business Self-Employed team who pour their heart into their mission of supporting those who dare to dream.

Thank you from the bottom of my heart to my family, co-founder, teammates, partners, friends, shareholders, and avid supporters.

Here’s to just getting started,

Matt Rissell