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Joined 1 year ago
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Cake day: July 8th, 2023

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  • Tax act used to be good. TLDR, tried to sell to HR Block, then appointed Intuit(TurboTax) Ex CEO as president. Scalping of value and enshittification continued:

    "…In October 2010, H&R Block said it would pay $287.5 million in cash to acquire the parent firm of TaxAct.[3] In May 2011 the U.S. Department of Justice attempted to stop the acquisition in an antitrust lawsuit.[4][5] In November 2011, a federal judge sided with the Justice Department, and both companies mutually terminated the contract.[6][7]

    In January 2012, 2nd Story Software was sold to Seattle-based Blucora (formerly Infospace, Inc.) for more than $287 million.[8][9][10] In 2013, the name was officially changed to TaxAct Holdings, Inc. Subsequently, in October of the same year, TaxAct acquired Balance Financial, the company that specializes in personal finance tools and services.[11]

    In 2018, former Intuit executive Curtis Campbell was appointed as the President of the company.[12]

    In November 2022, private equity firm Cinven agreed to acquire TaxAct for about $720 million. Cinven announced it would combine…"