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Quicken history
Quicken company history timeline
In 1984, the personal computing industry had crashed with venture capitalist investments falling 25 percent after tripling the year before.
Rocket Mortgage (formerly Quicken Loans), originally Rock Financial Mortgage, was founded in 1985 by Dan Gilbert, Ron Berman, Lindsay Gross, and Gary Gilbert.
He has been part of the Quicken business since its early days – he joined Intuit, Quicken’s previous owner, as employee #4 in 1986, when Quicken was the only Intuit software product.
In July 1987 the name was changed to Rock Financial Corp.
In March 1988, PC Magazine, the gold standard of the computer industry, ranked Quicken the number-ten best-selling software program.
In 1989, Intuit reinstated the “follow me home” program that Scott Cook started in the early days of Quicken.
As RFC grew so did the head count, hitting 50 employees in August 1991 as the “refi” boom began.
In 1991, Intuit introduced “Quicken for Windows” taking advantage of the new graphical user interface.
In 1997, when it was discovered that almost a third of customers were using Quicken to track their business finances, Intuit created Quicken Home & Business offering tools to help users run their business and personal finances separately or together.
In May 1998, Gilbert took Rock Financial public, launching an IPO underwritten by Bear Stearns and Prudential Securities.
In December 1999, Intuit Inc. (makers of QuickBooks, TurboTax, and Quicken) purchased Rock Financial for $532M. The company was renamed Quicken Loans.
Eric retired from Intuit in 2000 to pursue a second career in technology investing, first as an angel investor and then as a General Partner at Cardinal Venture Capital.
In June 2002, Gilbert led a small group of private investors in purchasing the Quicken Loans subsidiary back from Intuit for just $64M.
“Intuit Founder Tells Accountants’ Group that Success Comes By Changing Rules,” Orange County Register, June 10, 2003.
Leveraging the growth and popularity of online banking, Quicken 2007 improved connectivity, setup and download of data from financial institutions and enables the ability to attach electronic documents right into Quicken.
Since 2009, Quicken has leased office space in the Compuware building facing Campus Martius Park in Detroit.
Quicken Loans moved its headquarters from the Michigan suburbs to the Compuware Building in the heart of Detroit’s business district in August 2010.
The company closed a record $70 billion of volume across all 50 states in 2012.Rock Holdings, which is led by billionaire founder and chairman Dan Gilbert, owns Quicken Loans.”
Pehr joined the Quicken team in 2012.
In 2014, Quicken Loans has grown to be the 2nd largest mortgage lender in the USA, and remains the nation’s largest online mortgage lender.
John joined the Quicken team in 2015 to help with the transition out of Intuit.
Eric has served as the CEO of Quicken Inc since 2016.
Tiffany joined the Quicken team in 2016 to lead the Human Resource department and assist with the transition from Intuit.
In January 2018, Quicken Loans became the nation’s largest mortgage lender.
Originally hired as the Corporate Controller, Gary was promoted to Chief Financial Officer in 2019.
Today, Quicken is the best-selling personal finance software in the US. We’ve expanded our lineup to include Quicken on the web, the Quicken mobile apps for iOS and Android, and Simplifi by Quicken, a web & mobile app introduced in 2020 for a new generation of digital natives.
On May 12, 2021 Quicken Loans announced that it would be rebranded to Rocket Mortgage, by July 31, 2021.
†Limited time offer of 40% off the list price applies only to the purchase of Quicken Deluxe, Premier, Home & Business for the first year only when you order directly from Quicken by May 25, 2022, 11:59 PM PST. Offer good for new memberships only.
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Quicken competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| ARM | 1990 | $1.2B | 6,250 | 174 |
| Medicalert Foundation | 1956 | $9.1M | 130 | - |
| United Solutions | 1983 | $1.0M | 5 | 4 |
| Lifeline Systems | 2004 | $235,000 | 750 | 5 |
| Proxy | 2016 | $8.5M | 100 | - |
| Bass & Associates | 1993 | $520,000 | 7 | - |
| Square | 2009 | $24.1B | 3,835 | 6 |
| Digitech | 1984 | $13.4M | 100 | 1 |
| NECS Solutions | - | $2.1M | 55 | - |
| Canon | 1937 | $3.8B | 11,167 | 661 |
Quicken history FAQs
Zippia gives an in-depth look into the details of Quicken, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Quicken. The employee data is based on information from people who have self-reported their past or current employments at Quicken. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Quicken. The data presented on this page does not represent the view of Quicken and its employees or that of Zippia.
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