HubSpot plans $100mn IPO
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26 Aug 2014
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HubSpot has joined Wayfair as another looming big win for the Boston tech community. The marketing software company filed to go public on Monday, looking to raise as much as $100 million in its IPO. In the documents, the eight-year-old HubSpot claims it works with more than 11,500 customers and had revenue last year of $77.6 million on 50% year-to-year growth. That growth had held about steady for the first six months of 2014 so far, with the company taking in $51.3 million, an increase of 46% year-to-year. Like many subscription companies when they look to go public, HubSpot is not profitable. It lost $34.3 million last year and had a net loss of $17.7 million for the first six months of 2014. Software subscriptions typically take several years to get in the black on any given deal. In its filing, HubSpot said that its typical customer is a medium-sized business of between 10 and 2,000 employees, paying an average $8,823 per customer per year. The company was founded out of MIT, where Brian Halligan and Dharmesh Shah were graduate students who bounded, they write, over the shortcomings of marketers working with startups and their mutual love of Belgian beer. |
| Source: Dion Global Type: IPO Related |
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