Credit Karma co-founder and Chief Revenue Officer Nichole Mustard is leaving the company after 16-and-a-half years, TechCrunch has exclusively learned today.
A spokesperson of the consumer fintech, now a subsidiary of Intuit, confirmed Mustard’s departure via email, writing only: “I can confirm she 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 executive departure at Credit Karma in 2023, as noted by a verified Blind user. Chief People Officer Colleen McCreary left her role in January before joining Ribbit Capital as an investor in June. In September, Greg Lull announced he would be resigning from his role of chief marketing officer as soon as his replacement is found.
Intuit closed on its $8.1 billion cash and stock purchase of Credit Karma in 2020 and things have been a bit bumpy since.
Last November, Credit Karma confirmed to TechCrunch that it had “decided to pause almost all hiring,” citing “revenue challenges due to the uncertain environment.” At that time, the company shared that all Credit Karma verticals had been “negatively impacted by macro uncertainty. Credit Karma experienced further deterioration in these verticals during the last few weeks of the first quarter [of 2022].”
In August, Intuit reported that Credit Karma had seen its revenue decline by 9% to $1.6 billion for the fiscal year ended July 31, 2023. Earlier this year, Intuit announced it would be discontinuing its personal finance app Mint in January. Intuit acquired Mint in 2009, and its decision to shut it down came as a surprise to many.
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