Intuit Acquires Lettuce for Reported $30 MillionThursday, May 8, 2014
Venice’s Lettuce, an inventory and order management service for small businesses, has been acquired by Intuit, which offers business and financial management solutions for small- and mid-sized businesses.
The deal, reportedly an all-cash deal worth $30 million, is Intuit’s second local purchase. The Mountain View company bought electronic document database DocStoc in December and folded the Santa Monica startup’s service into its QuickBooks platform. It reportedly plans to do the same with Lettuce.
Lettuce launched in 2009 as a dog toy manufacturer, but quickly evolved into a software provider after developing technology to streamline its own order processing system.
“We’ve worked hard to improve the way you manage your orders and inventory so you can eliminate time-consuming, tedious tasks and spend more time doing the things you love,” Lettuce Chief Executive Raad Mobrem wrote in a blog post on the Lettuce website. “We plan on continuing down this path.”
The transaction was first reported by PandoDaily.