Square Agrees to Buy Credit Karma’s Tax Preparation Service for $50M

Payments company Square said Wednesday it will buy Credit Karma’s tax business for $50 million and integrate it into its Cash App, a major hub for bitcoin sales.

Cash App will make Credit Karma’s do-it-yourself tax-preparation software available to its 30 million monthly users for free, Square said. Those users already send payments, manage credit cards, invest in stocks and increasingly purchase bitcoin from the popular app.

Credit Karma is selling the operations as a condition to gain U.S. Department of Justice approval for its $7.1 billion acquisition by Intuit.

Related Stories

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.