Mint, a 38-person staff startup offering free online personal finance service is recently acquired by Intuit. The acquisition is valued $170 million. A big win to Mint’s 28 years old CEO, Aaron Patzer, and is also an encouragement to tens of other free online personal finance service, including Qian8ao, the leading Chinese service which already claims 1.5 million users.

Like Mint, Qian8bao also focus on free online personal finance service with which users can manage and track their expense, earning, do budget planning etc. If we compare its features with Mint, obviously Qian8bao still needs lots of work to catch up with Mint. However, after my try of Qian8ao, I got the feeling that Mint is a truly SaaS, but Qiao8ao seems walking towards another direction, which I would like to describe it, online money management with social approach.

On Qiao8ao, the user can decide to share the stuff she spent money on with friends. Talked to YU Zhan, the founder of Qiao8ao, I like what he and his team is trying to achieve. Qian8ao right now is a simple online finance service, but it could be a social e-commerce service as well: You know how much your friend spent on certain product which you want too and you can also instantly be aware that if you still have the budget for this month. It sounds like a social shopping site, such as Taojianghu, the Taobao’s SNS, but note that it won’t (and probably never will) offer you the money management tool.

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Gang Lu

Dr. Gang Lu - Founder of TechNode. He's a Blogger, a Geek, a PhD and a Speaker, with passion in Tech, Internet and R'N'R.