A growing TSheets rebrands itself as Intuit

Sharon Fisher//September 6, 2019

A growing TSheets rebrands itself as Intuit

Sharon Fisher//September 6, 2019

photo of tsheets building
The giant T is no more. TSheets is now Intuit. Photo by Sharon Fisher

EAGLE — The giant T has been replaced by Intuit, the T-shirts now say Intuit, Boise Site and there’s a new person in charge at the former TSheets Inc.

But never fear, the beer keg is still there. And the time tracking software company is growing, though it isn’t likely to undergo any massive changes.

“I was part of the executive team that built this organization,” said J.D. Mullin, vice president of the time tracking segment at Intuit. “If there was anything I wanted to massively change, I would have executed it.”

Intuit bought TSheets in December 2017 for $340 million – the biggest acquisition of the year, according to the Idaho Deal Flow Report, produced by the Idaho Technology Council (ITC). As recently as October 2018, CEO Matt Rissell declared he had no intention to leave.

photo of jay larsen
Jay Larsen

But after the company celebrated the first anniversary of the acquisition, things started to change and there was a greater willingness to become more tied to Intuit.

photo of jd mullin
J. D. Mullin

One of the changes is that Rissell decided he was ready to move on, giving a year’s notice – which will end in December – and handing the reins to Mullin, who joined the company in 2013 from WhiteCloud Analytics.

“Matt and I started talking about this a while back,” Mullin said. “It was a very deliberate transition plan. It’s not like one week we came up for air and said, ‘We have to do something about this.’”

Employees were told earlier this summer, and the announcement came in early August in coordination with the rebranding of the building, Mullin said.

Rissell was not made available for interviews, but his Facebook page indicates that he had intended to be financially independent by 40. He closed the sale of TSheets on his 41st birthday, retiring at 42.

“Will I be retired forever?” he posted. “Not. A. Chance.”

Jay Larsen, ITC president and CEO, praised TSheets as “an amazing Idaho success story.”

“Matt Rissell is a fantastic entrepreneur and visionary leader that built a high performing company that will continue to be a strong economic force for years to come in Idaho,” he said.

Larsen noted that Rissell and Mullin met through the ITC.

“Matt and J.D. met through the ITC Software Alliance, which Matt started,” he said. “J.D. was a key contributor as they both focused on ways to grow the quality and quantity of software talent and companies in Idaho. Both Matt and J.D. are strategic leaders who build high-performing teams.”

photo of matt rissell
Matt Rissell

Another change at TSheets is that the Boise site (the T-shirts provide a pronunciation guide, “Boy-See”) will house more Intuit employees than those working on time tracking software, Mullin said.

“Economics-wise, Boise is a fantastic location,” Mullin said.

The availability of talent is another factor, he said. “There is a culture and a vibe in Boise that this company has created that makes people want to work here.”

Intuit employees from other locations have been applying for positions at the Eagle facility, and the company has added 160 positions since the acquisition.

“Right now we’re tiptoeing into it,” Mullin said. “Hopefully we’ll get into other disciplines like product management and design.”

Currently, supporting other Intuit roles is a pilot project, he said.

“When we started out, there were about four roles in the company,” Mullin said, noting that TSheets had fewer than 20 employees when he started. “There’s probably about 50 now.”

Within the next few months, the company will announce the acquisition of another Treasure Valley site, Mullin said. It will house about the same number of employees as the Eagle headquarters, which is currently more than 400. Mullin couldn’t say where it will be located or whether Intuit will construct the building or buy one.