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HubSpot Files For $100 Million IPO
HubSpot, the Massachusetts-based online marketing software company, has filed paperwork to go public in an IPO that could raise up to $100 million.
According to HubSpot’s S-1 document, the company currently has more than 11,000 customers in 70+ countries. HubSpot also reports that it has 719 full-time employees, with its headquarters in Cambridge, Massachusetts, and additional offices in Dublin and Sydney.
HubSpot offers marketing services that are aimed at mid-sized businesses, which it defines as having between 10 and 2,000 employees. It offers marketing tools that include blogging, social media publishing and monitoring, marketing automation and analytics. In a survey that we conducted late last year, HubSpot was the third most-recognized marketing technology brand, behind Google and Moz and ahead of SalesForce, Adobe and others.
The S-1 reveals that HubSpot had a net loss of $34.3 million in 2013 and $17.7 million during the first half of this year. The company reports an accumulated deficit of $123.8 million as of June 30, 2014.
Total revenue was $77.6 million in 2013. Revenues for the first half of this year were $51.3 million, up from $35.1 million in the first half of 2013.
The company plans to trade on the New York Stock Exchange under the symbol HUBS. Although the initial S-1 refers to a $100 million offering, the actual size of the IPO could be different.
The company was founded in 2006 by Brian Halligan and Dharmesh Shah, currently the company’s CEO and CTO, respectively.
(Tip via BetaBoston.)