Hubspot has filed to go public on Monday with a $100 million initial public offering. The Boston-area based tech company, founded by Dharmesh Shah and Brian Halligan, filed its S-1 document with the U.S. Securities and Exchange Commissions and will trade under the symbol HUBS on the New York Stock Exchange.
According to the SEC filing, HubSpot reported revenue of $77.6 million in 2013, which was a 50% increase in year over year growth, along with a loss of $34.3 million. Thus far in 2014, HubSpot is reporting revenues of $51.3 million in the first 6 months of the year, which is a 46% increase in year over year growth, along with a loss of $17.7 million. The company values its 11,000 customers at an average of $8.823 per customer per year.
Hubspot is beloved by content marketers for its software-as-a-service inbound marketing product, which is centered around the notion of inbound marketing, a term coined by HubSpot Co-Founder Brian Halligan. Inbound marketing, or content marketing, at its core, revolves around the creation, sharing, and promotion of free content across the web to bring potential customer leads inbound to a company’s website rather than traditional marketing and selling techniques. Content can include a wide range of information such as blogs, ebooks, infographics, images, podcasts, videos, whitepapers, and social media marketing updates.
Hubspot has since expanded into a well-rounded marketing platform that enterprise business reviews site G2 Crowd ranks as #1 in satisfaction in multiple categories including: social media management, email marketing, marketing automation, web analytics, and search marketing. Tech publication Venture Beat recently ranked HubSpot as the “Best All-Round Marketing Automation System” in their 2014 Venture Beat Marketing Automation Index.
The company was founded in 2006 on the campus of MIT when Halligan and Shah were grad students and now employs over 700 employees, the majority of which are headquartered in Cambridge, Massachusetts with about 90 employees in their Dublin, Ireland office.
HubSpot initially targeted small businesses under 10 employees, but now focuses on medium sized businesses over 10 and up to 1000 employees. As the company’s business model and product offerings mature, as well as the cash infusion from the IPO, the company will most likely target and attract larger enterprise business clients as it continues to grow.