Credit Karma co-founder and Chief Revenue Officer Nichole Mustard is leaving the company after 16-and-a-half years, TechCrunch learned exclusively today.
A representative for the consumer fintech, now a subsidiary of Intuit, confirmed Mustard’s departure via email, writing only: “I can confirm that she has decided to leave the company, her contributions have been significant and we wish her well.”
Mustard’s decision to step down marks the third known high-profile departure from Credit Karma in 2023, as noted by a verified Blind user. Chief People Officer Colleen McCreary she left her role in January before joining Ribbit Capital as an investor in June. In September, Greg Lull announced that he would be stepping down from his role as head of marketing once his replacement is found.
Intuit closed with $8.1 billion in cash and stock Buy of Credit Karma in 2020 and things have been a bit bumpy ever since.
Last November, Credit Karma confirmed to TechCrunch that it had “decided to cease nearly all hiring,” citing “revenue challenges due to the uncertain environment.” At that time, the company split that all Credit Karma industries had been “adversely impacted by macroeconomic uncertainty. Credit karma further deteriorated in these industries during the final weeks of the first quarter [of 2022].”
In August, Intuit reported that Credit Karma had seen it decrease in revenue by 9% to $1.6 billion for the fiscal year ending July 31, 2023. Earlier this year, Intuit announced it would by discontinuing the Mint personal finance app in January. Intuition acquired Mint in 2009and his decision to close it came as a surprise to many.
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