SaaStr: Mailchimp Is Shrinking Inside Intuit — and the Diagnosis Is That It Has No MCP Server
Jason Lemkin traced Mailchimp from a ~$1.06B ARR peak (Q4 FY22, the only quarter Intuit ever disclosed the figure) to outright year-over-year revenue decline by Q3 FY26, against the $12B Intuit paid in 2021 for an $800M-revenue business growing ~20%; Intuit has now published growth rates excluding Mailchimp for four straight quarters, with the gap widening from half a point in September 2025 to three points plus a decline by May 2026, alongside a 17% workforce cut (~3,100 roles) and $300M in restructuring charges. Klaviyo over the same window did $358M in Q1 2026, up 28%, at 110% NRR and 196,000+ customers. The builder-relevant cause Lemkin names is agent operability: Mailchimp has no official MCP server for its marketing features and is absent from Replit, Lovable and Vercel, where new apps are now assembled — while Resend is wired in.
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