Small business owners throughout New York are probably familiar with Quickbooks. In the last year, Intuit, the maker of Quickbooks, has been rapidly expanding with the acquisition of a number of companies. Now Docstoc, worldwide provider of business-related documents, has been taken into the Intuit fold.
Docstoc appeals to a market of small businesses that need access to business-related documents. The company currently has roughly 20 million such documents on its site, and most of those items are user-submitted. Docstoc reportedly serves about 40 million users across the globe, providing videos, tutorials and other services related to business education.
The transaction between Intuit and Docstoc was welcomed by the Docstoc chief executive officer. He said he looks forward to the resources a big company like Intuit can provide.
Investors initially put $4 million into Docstoc to get it going, and the CEO views the acquisition by Intuit as a great opportunity to offer new products.
While many mergers and acquisitions involve major management shifts and possible layoffs, the Docstoc deal isn’t expected to lead to much change for the company’s 50 employees, who will continute to work in the same California office.
Business transactions such as this one are very complex and require careful preparation. Issues such as intellectual property, taxes, real estate and liability are bound to arise, and all of these matters can be effectively addressed in legal negotiations.
More details on the Docstoc acquisition are available in the article we’ve linked to below.
For more on legal matters related to business transactions, please see our pages on sales and dissolutions.
Source: TechCrunch, “Intuit Agrees To Acquire Small Business Document Startup Docstoc,” Ryan Lawler, Dec. 4, 2013