Xero Ltd., the Wellington-based provider of cloud accounting software for small businesses, has agreed to acquire U.S. fintech Melio Payments Inc. for an upfront consideration of $2.5 billion in cash and stock, with up to $500 million payable over the next three years through deferrals and rollovers.

The deal, funded by a $1.2 billion equity placement and a $400 million unsecured credit facility, will allow Xero to fold Melio’s digital bill-payment technology into its platform, giving customers a single system for bookkeeping and payments. Xero said the combination is aimed at accelerating its expansion in the United States, its largest addressable market but one where it still lags rivals such as Intuit’s QuickBooks.

Melio, founded in 2018 and headquartered in New York with an R&D center in Tel Aviv, enables small firms to pay and receive bills electronically and has grown rapidly as companies shift away from checks. Closing of the transaction is subject to customary regulatory approvals.

A vehicle drove into a group of pedestrians near SoFi Stadium and the adjacent Intuit Dome in Inglewood, California, on Saturday night, injuring at least 10 people, according to local authorities.

Emergency responders said the victims range in age from teenagers to adults. A 14-year-old boy was listed in critical condition, while the other injuries were described as ranging from moderate to serious.

Witnesses told investigators the driver appeared to be "showing off" before losing control of the vehicle as spectators were leaving a nearby soccer match. Police have not announced any arrests and are asking anyone with video of the incident to come forward as the inquiry continues.

VentureBeat has announced a comprehensive lineup of speakers for its upcoming VB Transform 2025 conference, scheduled for June 24–25 in San Francisco. The event will feature leading figures in artificial intelligence and enterprise technology, including Andrew Ng, a prominent AI expert, and executives from major companies such as Intuit, Walmart, Bank of America, LinkedIn, Capital One, American Express, and Atlassian. Sessions will cover a wide range of AI-related topics, including enterprise AI scaling, autonomous AI agents, AI-powered financial services, data quality for generative AI, AI infrastructure, and the economics of AI inference. Notable speakers include Aerotrekker (SVP & Chief AI and Data Officer at Intuit), Desirée Gosby (VP of Emerging Technology at Walmart), Awais Sher Bajwa (Head of Data & AI Banking at Bank of America), Olivier Godement (Head of Product, API at OpenAI), and Chet Kapoor (Chairman & CEO of DataStax), who will host a roundtable on transitioning AI from pilot projects to production. The conference aims to explore the next wave of intelligent automation, AI agent orchestration, and the future of AI-driven customer experiences across various industries. Special pricing is available for attendees.

VentureBeat has announced a comprehensive lineup of speakers for its upcoming VB Transform 2025 conference, scheduled for June 24–25 in San Francisco. The event will focus on advancements and applications in artificial intelligence, particularly autonomous AI agents and enterprise AI. Key speakers include Andrew Ng, a prominent AI figure, and executives from leading companies such as Intuit, OpenAI, Walmart, Bank of America, LinkedIn, Capital One, IBM, Expedia, Highmark Health, Zoom, and American Express. Sessions will cover topics like AI in financial services, retail, healthcare, infrastructure, data quality, AI orchestration, enterprise-grade autonomy, and AI economics. The conference aims to explore the future of AI-powered automation, the rise of meta-agents, AI product strategy, and the evolving infrastructure supporting autonomous AI. Special pricing is available for attendees, and the event promises a series of in-depth discussions and workshops led by industry experts and innovators.

VentureBeat has announced a comprehensive lineup of speakers for its VB Transform 2025 conference, scheduled for June 24–25 in San Francisco. The event will feature prominent AI and technology leaders from major companies including Intuit, Windsurf AI, Boston Consulting Group (BCG), Walmart, OpenAI, New Relic, Bank of America, Emergence AI, LinkedIn, Capital One, Replit, Atlassian, American Express, DataStax, and others. Key sessions will cover a wide range of topics such as enterprise AI at scale, the future of retail with AI-powered experiences, the evolving human-AI relationship, autonomous AI agents, data quality for generative AI, AI infrastructure, AI economics, and the orchestration of AI agents for superior customer experiences. Notable speakers include Andrew Ng, a leading figure in AI, and Chet Kapoor, CEO of DataStax, who will host a roundtable on transitioning AI from pilot projects to production in mission-critical workflows. The conference aims to address challenges and innovations in AI deployment across industries such as financial services, healthcare, travel, and retail, emphasizing themes like AI safety, trust, observability, and the economic impact of AI inference. Attendees are encouraged to secure special pricing for attendance.

VentureBeat has announced a comprehensive lineup of speakers for its VB Transform 2025 conference, scheduled for June 24-25 in San Francisco. The event will feature leaders from prominent companies across the AI and technology sectors discussing the future of artificial intelligence, autonomous agents, and enterprise applications. Key speakers include Andrew Ng, a leading AI expert, and executives from Intuit, Walmart, Bank of America, LinkedIn, Capital One, OpenAI, and American Express. Sessions will cover topics such as AI in financial services, retail automation, data quality for generative AI, AI infrastructure, autonomous AI agents, and the economics of AI inference.

The conference aims to explore AI's role in transforming industries like healthcare, travel, and customer experience, with a focus on scaling AI safely and effectively. Attendees will also hear from academics and consultants on AI strategy and product development. Special pricing is available for a limited time.

The upcoming episode 401 of DisrupTV will feature a discussion on artificial intelligence, ethics, entrepreneurship, and the future of technology with guests including Karen Silverman of The Cantellus Group, Denise Holt, CEO of AIX Global Media, David Bray from the Stimson Center, and Lori Rosenkopf, author of Unstoppable Entrepreneurs. Additionally, another episode scheduled for Friday will focus on leadership, inclusion, and purpose-driven work, featuring David Roberts, CEO of SugarCRM, co-author J.M. Stutz discussing his book Daily Practices of an Inclusive Leader, and speakers Wes Adams and Tamara Myles. Meanwhile, VentureBeat announced the start of 60 hours of speaker reveals for its VB Transform event taking place June 24–25 in San Francisco. Notable speakers include the SVP and Chief AI and Data Officer at Intuit, who will discuss the future of AI in financial services, and Matthew Kropp, Managing Director and Senior Partner at BCG, who will present on the evolving human-AI relationship in the age of agents.

NBA Commissioner Adam Silver announced that the 2026 NBA All-Star Game will feature a USA vs. World format, with the game scheduled for February 15, 2026, at the Intuit Dome in Inglewood, California. The event will be broadcast in the afternoon on NBC, coinciding with the network's coverage of the Winter Olympics.

Silver stated that the exact structure of the USA vs. World format is still being determined, noting that about 70% of NBA players are American, which presents roster challenges. The format change is intended to align with NBC's new broadcasting rights and Olympic programming.

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The IRS has open sourced most of its Direct File tax filing software on GitHub, complying with a legal requirement under the SHARE IT Act. This move comes despite pressure from Intuit, the company behind TurboTax, which has reportedly sought to halt the software's development. Direct File is a free, open-source tax filing program originally developed with input from government workers. Its open sourcing is seen as a positive development for transparency and accessibility in tax filing, allowing users and developers to utilize and improve the code independently of proprietary software interests.

Monarch, a personal finance app, has raised $75 million in a Series B funding round led by FPV Ventures and Forerunner, reaching a valuation of $850 million. The company has experienced a 20-fold increase in subscribers since Intuit shut down its Mint app in 2023. Despite reports of a challenging environment for fintech startups in 2025, Monarch's growth and fundraising success highlight a positive trajectory within the sector.

Intuit Inc. reported strong financial results for its third quarter of fiscal year 2025, surpassing Wall Street estimates and raising its full-year guidance. The company posted revenue of $7.88 billion, up 15% year-over-year, exceeding the consensus estimate of approximately $7.56 billion. Adjusted earnings per share (EPS) reached $11.65, an 18% increase from the prior year and above the estimated $10.96.

GAAP EPS rose 19% to $10.02, while adjusted operating income was $4.34 billion, up 17% and beating the forecast of $4.1 billion. Key business segments contributed to growth, with the Consumer Group, including TurboTax Live, generating $4.0 billion in revenue, up 11%, and TurboTax Live revenue alone up 47% year-over-year, projected to reach $2.0 billion for the full fiscal year. Intuit also highlighted advances in AI integration as a factor in its performance. The company raised its full-year revenue forecast to a range of $18.72 billion to $18.76 billion, up from previous guidance of $18.16 billion to $18.35 billion, and adjusted EPS guidance to $20.07 to $20.12 from $19.16 to $19.36. Following the earnings release, Intuit's stock surged 8% to 9% in after-hours trading, reaching new highs not seen in over three years. Several analysts, including Wolfe Research and JPMorgan, upgraded their price targets for Intuit, with JPMorgan raising its target to $770 and maintaining an overweight rating. CFO Sandeep Aujla provided further commentary on the strong outlook during the earnings call.

Several major U.S. technology firms reported earnings for the quarter ending April 2025, with Snowflake, Intuit, Autodesk, and Analog Devices all surpassing analyst expectations and raising their full-year outlooks, while Workday delivered strong results but issued cautious guidance.

Snowflake reported first-quarter revenue of $1.04 billion, up 26% year-over-year, and adjusted EPS of $0.24, beating estimates. Product revenue reached $996.8 million, net retention was 124%, and customers generating over $1 million in revenue rose to 606. The company posted a net loss of $430 million. Snowflake raised its fiscal 2026 product revenue guidance to $4.33 billion. Its stock surged 13.43% to $203.18, reaching a new 52-week high, with about 1,140 institutional holders. Multiple analysts raised price targets following the report.

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The IRS Direct File program, which allows taxpayers to file their taxes directly with the IRS for free, is facing potential elimination as Elon Musk and the Department of Government Efficiency (DOGE) navigate through federal bureaucracy. The program, now in its second year, was made permanent last year after a successful pilot in 2024, funded by the Inflation Reduction Act signed by President Joe Biden in 2022. Musk recently posted on his social media site that he had 'deleted' 18F, a government agency involved in the program's development, causing confusion about its availability.

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Xero Ltd., the Wellington-based provider of cloud accounting software for small businesses, has agreed to acquire U.S. fintech Melio Payments Inc. for an upfront consideration of $2.5 billion in cash and stock, with up to $500 million payable over the next three years through deferrals and rollovers.

The deal, funded by a $1.2 billion equity placement and a $400 million unsecured credit facility, will allow Xero to fold Melio’s digital bill-payment technology into its platform, giving customers a single system for bookkeeping and payments. Xero said the combination is aimed at accelerating its expansion in the United States, its largest addressable market but one where it still lags rivals such as Intuit’s QuickBooks.

Melio, founded in 2018 and headquartered in New York with an R&D center in Tel Aviv, enables small firms to pay and receive bills electronically and has grown rapidly as companies shift away from checks. Closing of the transaction is subject to customary regulatory approvals.

A vehicle drove into a group of pedestrians near SoFi Stadium and the adjacent Intuit Dome in Inglewood, California, on Saturday night, injuring at least 10 people, according to local authorities.

Emergency responders said the victims range in age from teenagers to adults. A 14-year-old boy was listed in critical condition, while the other injuries were described as ranging from moderate to serious.

Witnesses told investigators the driver appeared to be "showing off" before losing control of the vehicle as spectators were leaving a nearby soccer match. Police have not announced any arrests and are asking anyone with video of the incident to come forward as the inquiry continues.

VentureBeat has announced a comprehensive lineup of speakers for its upcoming VB Transform 2025 conference, scheduled for June 24–25 in San Francisco. The event will feature leading figures in artificial intelligence and enterprise technology, including Andrew Ng, a prominent AI expert, and executives from major companies such as Intuit, Walmart, Bank of America, LinkedIn, Capital One, American Express, and Atlassian. Sessions will cover a wide range of AI-related topics, including enterprise AI scaling, autonomous AI agents, AI-powered financial services, data quality for generative AI, AI infrastructure, and the economics of AI inference. Notable speakers include Aerotrekker (SVP & Chief AI and Data Officer at Intuit), Desirée Gosby (VP of Emerging Technology at Walmart), Awais Sher Bajwa (Head of Data & AI Banking at Bank of America), Olivier Godement (Head of Product, API at OpenAI), and Chet Kapoor (Chairman & CEO of DataStax), who will host a roundtable on transitioning AI from pilot projects to production. The conference aims to explore the next wave of intelligent automation, AI agent orchestration, and the future of AI-driven customer experiences across various industries. Special pricing is available for attendees.

VentureBeat has announced a comprehensive lineup of speakers for its upcoming VB Transform 2025 conference, scheduled for June 24–25 in San Francisco. The event will focus on advancements and applications in artificial intelligence, particularly autonomous AI agents and enterprise AI. Key speakers include Andrew Ng, a prominent AI figure, and executives from leading companies such as Intuit, OpenAI, Walmart, Bank of America, LinkedIn, Capital One, IBM, Expedia, Highmark Health, Zoom, and American Express. Sessions will cover topics like AI in financial services, retail, healthcare, infrastructure, data quality, AI orchestration, enterprise-grade autonomy, and AI economics. The conference aims to explore the future of AI-powered automation, the rise of meta-agents, AI product strategy, and the evolving infrastructure supporting autonomous AI. Special pricing is available for attendees, and the event promises a series of in-depth discussions and workshops led by industry experts and innovators.

VentureBeat has announced a comprehensive lineup of speakers for its VB Transform 2025 conference, scheduled for June 24–25 in San Francisco. The event will feature prominent AI and technology leaders from major companies including Intuit, Windsurf AI, Boston Consulting Group (BCG), Walmart, OpenAI, New Relic, Bank of America, Emergence AI, LinkedIn, Capital One, Replit, Atlassian, American Express, DataStax, and others. Key sessions will cover a wide range of topics such as enterprise AI at scale, the future of retail with AI-powered experiences, the evolving human-AI relationship, autonomous AI agents, data quality for generative AI, AI infrastructure, AI economics, and the orchestration of AI agents for superior customer experiences. Notable speakers include Andrew Ng, a leading figure in AI, and Chet Kapoor, CEO of DataStax, who will host a roundtable on transitioning AI from pilot projects to production in mission-critical workflows. The conference aims to address challenges and innovations in AI deployment across industries such as financial services, healthcare, travel, and retail, emphasizing themes like AI safety, trust, observability, and the economic impact of AI inference. Attendees are encouraged to secure special pricing for attendance.

VentureBeat has announced a comprehensive lineup of speakers for its VB Transform 2025 conference, scheduled for June 24-25 in San Francisco. The event will feature leaders from prominent companies across the AI and technology sectors discussing the future of artificial intelligence, autonomous agents, and enterprise applications. Key speakers include Andrew Ng, a leading AI expert, and executives from Intuit, Walmart, Bank of America, LinkedIn, Capital One, OpenAI, and American Express. Sessions will cover topics such as AI in financial services, retail automation, data quality for generative AI, AI infrastructure, autonomous AI agents, and the economics of AI inference.

The conference aims to explore AI's role in transforming industries like healthcare, travel, and customer experience, with a focus on scaling AI safely and effectively. Attendees will also hear from academics and consultants on AI strategy and product development. Special pricing is available for a limited time.

The upcoming episode 401 of DisrupTV will feature a discussion on artificial intelligence, ethics, entrepreneurship, and the future of technology with guests including Karen Silverman of The Cantellus Group, Denise Holt, CEO of AIX Global Media, David Bray from the Stimson Center, and Lori Rosenkopf, author of Unstoppable Entrepreneurs. Additionally, another episode scheduled for Friday will focus on leadership, inclusion, and purpose-driven work, featuring David Roberts, CEO of SugarCRM, co-author J.M. Stutz discussing his book Daily Practices of an Inclusive Leader, and speakers Wes Adams and Tamara Myles. Meanwhile, VentureBeat announced the start of 60 hours of speaker reveals for its VB Transform event taking place June 24–25 in San Francisco. Notable speakers include the SVP and Chief AI and Data Officer at Intuit, who will discuss the future of AI in financial services, and Matthew Kropp, Managing Director and Senior Partner at BCG, who will present on the evolving human-AI relationship in the age of agents.

NBA Commissioner Adam Silver announced that the 2026 NBA All-Star Game will feature a USA vs. World format, with the game scheduled for February 15, 2026, at the Intuit Dome in Inglewood, California. The event will be broadcast in the afternoon on NBC, coinciding with the network's coverage of the Winter Olympics.

Silver stated that the exact structure of the USA vs. World format is still being determined, noting that about 70% of NBA players are American, which presents roster challenges. The format change is intended to align with NBC's new broadcasting rights and Olympic programming.

Read more

The IRS has open sourced most of its Direct File tax filing software on GitHub, complying with a legal requirement under the SHARE IT Act. This move comes despite pressure from Intuit, the company behind TurboTax, which has reportedly sought to halt the software's development. Direct File is a free, open-source tax filing program originally developed with input from government workers. Its open sourcing is seen as a positive development for transparency and accessibility in tax filing, allowing users and developers to utilize and improve the code independently of proprietary software interests.

Monarch, a personal finance app, has raised $75 million in a Series B funding round led by FPV Ventures and Forerunner, reaching a valuation of $850 million. The company has experienced a 20-fold increase in subscribers since Intuit shut down its Mint app in 2023. Despite reports of a challenging environment for fintech startups in 2025, Monarch's growth and fundraising success highlight a positive trajectory within the sector.

Intuit Inc. reported strong financial results for its third quarter of fiscal year 2025, surpassing Wall Street estimates and raising its full-year guidance. The company posted revenue of $7.88 billion, up 15% year-over-year, exceeding the consensus estimate of approximately $7.56 billion. Adjusted earnings per share (EPS) reached $11.65, an 18% increase from the prior year and above the estimated $10.96.

GAAP EPS rose 19% to $10.02, while adjusted operating income was $4.34 billion, up 17% and beating the forecast of $4.1 billion. Key business segments contributed to growth, with the Consumer Group, including TurboTax Live, generating $4.0 billion in revenue, up 11%, and TurboTax Live revenue alone up 47% year-over-year, projected to reach $2.0 billion for the full fiscal year. Intuit also highlighted advances in AI integration as a factor in its performance. The company raised its full-year revenue forecast to a range of $18.72 billion to $18.76 billion, up from previous guidance of $18.16 billion to $18.35 billion, and adjusted EPS guidance to $20.07 to $20.12 from $19.16 to $19.36. Following the earnings release, Intuit's stock surged 8% to 9% in after-hours trading, reaching new highs not seen in over three years. Several analysts, including Wolfe Research and JPMorgan, upgraded their price targets for Intuit, with JPMorgan raising its target to $770 and maintaining an overweight rating. CFO Sandeep Aujla provided further commentary on the strong outlook during the earnings call.

Several major U.S. technology firms reported earnings for the quarter ending April 2025, with Snowflake, Intuit, Autodesk, and Analog Devices all surpassing analyst expectations and raising their full-year outlooks, while Workday delivered strong results but issued cautious guidance.

Snowflake reported first-quarter revenue of $1.04 billion, up 26% year-over-year, and adjusted EPS of $0.24, beating estimates. Product revenue reached $996.8 million, net retention was 124%, and customers generating over $1 million in revenue rose to 606. The company posted a net loss of $430 million. Snowflake raised its fiscal 2026 product revenue guidance to $4.33 billion. Its stock surged 13.43% to $203.18, reaching a new 52-week high, with about 1,140 institutional holders. Multiple analysts raised price targets following the report.

Read more

The IRS Direct File program, which allows taxpayers to file their taxes directly with the IRS for free, is facing potential elimination as Elon Musk and the Department of Government Efficiency (DOGE) navigate through federal bureaucracy. The program, now in its second year, was made permanent last year after a successful pilot in 2024, funded by the Inflation Reduction Act signed by President Joe Biden in 2022. Musk recently posted on his social media site that he had 'deleted' 18F, a government agency involved in the program's development, causing confusion about its availability.

Read more