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    INTU   US4612021034


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Intuit : LA Clippers to Announce Partnership During Groundbreaking for Intuit Dome

09/17/2021 | 08:04am EDT

Long-term partnership between Intuit and Clippers will use innovation to drive one-of-a-kind fan and customer experience while delivering economic benefits for local community

The LA Clippers and Intuit Inc. (Nasdaq: INTU), a global technology platform that makes TurboTax, QuickBooks, Credit Karma and Mint, announced today that they have entered a 23-year strategic partnership. Intuit is the exclusive naming rights partner of the Intuit Dome, the future home of the Clippers, which is scheduled to open in Inglewood, California for the 2024-2025 NBA season. The Clippers, Intuit and community leaders will break ground this morning. The Intuit Dome will deliver an innovative fan and consumer experience, and it will become a hub for programs that power economic prosperity and benefit the community.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210917005108/en/

Intuit Dome, Home of the LA Clippers: Exterior Rendering (Photo: Business Wire)

Intuit Dome, Home of the LA Clippers: Exterior Rendering (Photo: Business Wire)

“When we began the search for a partner for the LA Clippers and our new dome, we looked for one that shares our passion for technology, the pursuit of innovation and our commitment to customers, fans and community,” said Steve Ballmer, LA Clippers Chairman. “Intuit is a perfect fit and we’re excited to be calling our future home the Intuit Dome.”

“Intuit and the Clippers are mission-driven organizations that share the common goal of putting their customers and fans first. We both have a focus on creating extraordinary experiences enabled by innovative technology,” said Sasan Goodarzi, Intuit Chief Executive Officer. “The Intuit Dome will reflect Intuit’s focus on innovation to deliver best-in-class products and services including TurboTax, QuickBooks, Mint and Credit Karma to help our customers achieve their financial goals. Intuit and the Clippers have a history of supporting local communities, and we look forward to investing in and contributing to the Inglewood community to help them prosper.”

Through this partnership, Intuit and the Clippers will create new programs to reinvigorate the local economy and local businesses that create jobs, enable job readiness, and educate entrepreneurs to help them better run their businesses and transform their financial lives.

As a function of the partnership, Intuit has committed to:

  • Expand Intuit’s Prosperity Hub School District program, which empowers the next generation of students to learn about finances and entrepreneurship, in the LA area. Intuit will commit an additional $1 million over the next three years to underserved school districts that are part of the program to make a long-term impact on the local economy. This follows Intuit’s recent donation to the Los Angeles Unified School District in July 2021.
  • Provide taxpayer assistance events to prepare and file taxes for low-income families in the area free of charge during tax season.
  • Host educational events where local entrepreneurs and small business owners including women or minority-owned businesses can leverage workshops, networking, tools, education, and tips on how to start, build, and grow a small business.

The Clippers have committed to the City of Inglewood the largest community benefits package ever associated with an arena, generating an estimated $260 million in annual economic activity.

Intuit Dome has been designed to create an intimate and intense fan experience through features such as “The Wall,” which is comprised of 51 uninterrupted rows of seats that include a dedicated supporters section; a two-sided halo scoreboard encircling the bowl with an acre of LED lighting; and an 80,000 square foot outdoor plaza, surrounding a full-size outdoor court. Technological advancements within Intuit Dome will allow for frictionless concession stands, enabling fans to spend more time in their seats.

Additional information about the Intuit Dome, and media materials from this morning’s groundbreaking event, will be available at www.clippers.com/intuitdome.

About Intuit

Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges. Serving approximately 100 million customers worldwide with TurboTax, QuickBooks, Mint and Credit Karma, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest news and information about Intuit, our products and services, and find us on social.

About the LA Clippers

Led by Chairman Steve Ballmer, the LA Clippers have competed in 51 NBA seasons and appeared in the Playoffs in nine of the past 10 seasons. The Clippers are committed to the city of Los Angeles and through the LA Clippers Foundation, provide resources and opportunities that make a positive difference toward leveling the playing field for youth in Southern California. Visit the Clippers online at www.clippers.com or follow them on social media @LAClippers.

© Business Wire 2021
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Sales 2022 11 167 M - -
Net income 2022 2 115 M - -
Net cash 2022 2 547 M - -
P/E ratio 2022 77,6x
Yield 2022 0,45%
Capitalization 161 B 161 B -
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Nbr of Employees 13 500
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Income Statement Evolution
Mean consensus BUY
Number of Analysts 22
Last Close Price 590,80 $
Average target price 603,11 $
Spread / Average Target 2,08%
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Sasan K. Goodarzi President, Chief Executive Officer & Director
Michelle M. Clatterbuck Chief Financial Officer & Executive Vice President
Brad D. Smith Executive Chairman
Atticus Tysen Chief Information Officer & Senior Vice President
Marianna Tessel Chief Technology Officer & Executive VP
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