HubSpot

HubSpot, Inc.
Public
Traded as NYSE: HUBS
Russell 2000 Component
Industry Software
Founded June 2006
Founder Brian Halligan
Dharmesh Shah
Headquarters Cambridge, Massachusetts
Revenue
  • IncreaseUS$375.6 million (2017)[1]
  • IncreaseUS$-40.1 million (2017)[1]
  • IncreaseUS$-39.70 million (2017)[1]
Total assets
  • IncreaseUS$712 million (2017)[1]
Total equity
  • IncreaseUS$210.3 million (2017)[1]
Website www.hubspot.com

HubSpot is a developer and marketer of software products for inbound marketing and sales. It was founded by Brian Halligan and Dharmesh Shah in 2006. Its products and services aim to provide tools for social media marketing, content management, web analytics and search engine optimization.

History

Interior view of HubSpot's office space

HubSpot was founded by Brian Halligan and Dharmesh Shah at the Massachusetts Institute of Technology (MIT) in 2006.[2]

The company grew from $255,000 in revenues in 2007 to $15.6 million in 2010.[2][3] Later that year HubSpot acquired Oneforty, the Twitter app store founded by Laura Fitton.[4][5] The company also introduced new software for personalizing websites to each visitor.[6] According to Forbes, HubSpot started out targeting small companies but "moved steadily upmarket to serve larger businesses of up to 1000 employees."[7][8] HubSpot filed for an initial public offering with the Securities and Exchange Commission on August 25, 2014 requesting they be listed on the New York Stock Exchange under the ticker symbol HUBS.[9] In July 2017, HubSpot acquired Kemvi, which applies artificial intelligence and machine learning to help sales teams.[10]

Software and services

HubSpot provides tools for social media marketing, content management, web analytics, landing pages and search engine optimization.[2][11][12][13] HubSpot has integration features for salesforce.com, SugarCRM, NetSuite, Microsoft Dynamics CRM and others.[14] There are also third-party services such as templates and extensions.[15] Additionally, HubSpot offers consulting services and an online resource academy for learning inbound marketing tactics.[16][17] It also hosts user group conferences and inbound marketing and certification programs.[17] HubSpot promotes their inbound marketing concepts through their own marketing,[12] and has been called "a prolific creator of content" such as blogs, social media, webinars and white papers.[7]

In 2010, an article in the Harvard Business Review said that HubSpot's most effective inbound marketing feature was its free online tools.[18] One such tool, the Marketing Grader, assessed and scored website performance.[19][20] The company introduced a Twitter tracking feature in 2011.[21][22]

In 2018, Hubspot integrated Taboola on the dashboard, a global pay-per-click native ad network. [23]

HubSpot CRM Free

The company launched HubSpot CRM Free in 2014.[24] The CRM product tracks and manages interactions between a company and its customers and prospects. It enables companies to forecast revenue, measure sales team productivity, and report on revenue sources.[25][26][27] The software as a service product is free and integrates with Gmail, G Suite, Microsoft Office for Windows, and other software.[28]

Tech industry reviews

HubSpot has been described as unique because it strives to provide its customers with an all-in-one approach.[13][29] A 2012 review in CRM Search said HubSpot was not the best business solution in each category but that taken as a whole it was the best "marketing solution" that combined many tools into one package.[7] It identified HubSpot's "strengths" as the sophistication of its Call to Action (CTA) tool, its online ecosystem and its "ease of use." Its weakness were described as having "more breadth than depth." The review said the lack of customization and design tools could be limiting and that it was missing advanced features such as Business Process Management (BPM) tools to manage workflow.[7]

Controversy

In July 2015, Hubspot's CMO Mike Volpe was dismissed for violating HubSpot’s code of business conduct after it was found that he tried to obtain a draft copy of the book Disrupted: My Misadventure in the Start Up Bubble, written by his former employee Daniel Lyons.[30][31] According to an article in the Boston Globe, records obtained under the Freedom of Information Act indicated that HubSpot executives considered the book "a financial threat to HubSpot" and Volpe used "tactics such as email hacking and extortion" in the attempt to prevent the book from being published.[32]

In April 2016, after releasing his book, Lyons criticized the company in a New York Times article by saying it had a "frat house" atmosphere and described it as a "digital sweatshop," claiming there was little job security for tech workers at HubSpot.[33] Later that month, HubSpot's founders gave an official response to the book, in which they addressed several, but not all of Lyons' claims.[34]

Reception

The Boston Business Journal named HubSpot a "Best Place to Work in 2012."[35] In 2015, the company was named the best large company to work for in Massachusetts by the Boston Globe.[36][37]

References

  1. 1 2 3 4 5 "HubSpot Reports Strong Q4 and Full Year 2017 Results" (PDF). HubSpot. HubSpot, Inc. Retrieved August 1, 2018.
  2. 1 2 3 Stone, Avery (August 8, 2011). "HubSpot wants to be Salesforce.com for small business". Fortune Magazine. Retrieved February 27, 2012.
  3. ↑ Alspach, Kyle (December 15, 2011). "HubSpot: We plan to be like HP, a huge company that lasts 100 years. But in Cambridge". Boston Business Journal. Retrieved February 27, 2012.
  4. ↑ Rao, Leena (August 18, 2011). "HubSpot Buys Social Media Management Platform And App Directory Oneforty". TechCrunch. Retrieved February 27, 2012.
  5. ↑ O’Dell, Jolie (August 18, 2011). "Twitter app store Oneforty acquired by HubSpot". VentureBeat. Retrieved February 27, 2012.
  6. ↑ Alspach, Kyle (December 14, 2011). "HubSpot: What we're working on now will change the Internet". Boston Business Journal. Retrieved February 27, 2012.
  7. 1 2 3 4 Schaeffer, Chuck. "HubSpot Marketing Software Review—An Independent Marketing Software Analysis". CRMSearch. Retrieved January 27, 2014.
  8. ↑ Colao, J.J. (March 15, 2012). "HubSpot Looks to Pounce as Traditional Marketing Gets "Obliterated"". Forbes. Retrieved December 29, 2013.
  9. ↑ "S-1".
  10. ↑ Ha, Anthony. "HubSpot acquires Kemvi to bring more AI into its sales and marketing platform". TechCrunch. Retrieved 2017-11-02.
  11. ↑ Gage, Deborah (March 8, 2011). "Google Ventures, Sequoia, Salesforce Give HubSpot $32M". The Wall Street Journal. Retrieved December 27, 2013.
  12. 1 2 Steenburgh, Thomas; Avery, Jilly; Dahod, Naseem (January 24, 2011), HubSpot: Inbound Marketing and Web 2.0, retrieved December 30, 2013
  13. 1 2 McCarthy, Kevin (May 26, 2011). "The Tech Behind HubSpot". BostInno. Retrieved February 27, 2012.
  14. ↑ Greenberg, Paul (January 24, 2012). "CRM Watchlist 2012 Winners – The Marketing Mavens". ZDNet. Retrieved February 27, 2012.
  15. ↑ Marketplace, HubSpot, retrieved December 27, 2013
  16. ↑ Blackwell, Gerry (January 16, 2008). "HubSpot: The Evolution of Marketing". Small Business Computing. Retrieved February 27, 2012.
  17. 1 2 HubSpot Academy, May 18, 2009, retrieved December 26, 2013
  18. ↑ Psaty, Kyle (April 27, 2010). "HubSpot's New Alerts Grader Cures Social Media Email Overload". BostInno. Retrieved December 28, 2013.
  19. ↑ Ha, Anthony (May 16, 2008). "Marketing software company HubSpot raises $12M". VentureBeat. Retrieved February 27, 2012.
  20. ↑ Gomer, Gregory (December 6, 2011). "HubSpot Marketing Grader Launches: We Put 30 Boston Startups Head to Head #Deathmatch". Bostinno. Retrieved February 27, 2012.
  21. ↑ Gomer, Gregory (August 10, 2011). "HubSpot Powers Useful Tool to Track ReTweets, Suffers Unfortunate Name: WhoretweetedMe". BostonInno. Retrieved February 27, 2012.
  22. ↑ Dugan, Lauren (August 16, 2011). "Find Out Which Influencers Retweeted You". MediaBistro. Retrieved February 27, 2012.
  23. ↑ Rijo, Daniel (June 3, 2018). "HubSpot is now connected with Taboola". PPC Land.
  24. ↑ Salager, Serge (10 December 2014). "The effect of HubSpot's CRM launch on Salesforce". TechCrunch. Retrieved 9 November 2017.
  25. ↑ Chad Brooks (12 July 2017). "HubSpot review: Best CRM software for startups". Business News Daily. Retrieved 16 November 2017.
  26. ↑ Maloney, Kathleen (19 December 2016). "14 free business tools to make your startup more successful in 2017". HuffPost. Retrieved 9 November 2017.
  27. ↑ Williams, Mike (13 July 2017). "Best CRMs for SMBs in 2017". TechRadar. Retrieved 9 November 2017.
  28. ↑ T.J. Houpes (25 September 2015). "What to expect from the HubSpot CRM platform". TechTarget. Retrieved 9 November 2017.
  29. ↑ Roush, Wade (August 24, 2007). "Online Marketing for Dummies—and for People with Better Things to Do". Xconomy. Retrieved February 27, 2012.
  30. ↑ "HubSpot fires marketing chief, sanctions CEO over incident involving book about the company".
  31. ↑ My Year in Startup Hell, Dan Lyons in Fortune, April 2016
  32. ↑ Extortion, hacking claims sparked HubSpot investigation, FBI records show, Boston Globe, 24 March 2016
  33. ↑ Lyons, Dan (9 April 2016). "Congratulations! You've Been Fired" – via NYTimes.com.
  34. ↑ Primack, Dan (12 April 2016). "HubSpot (Finally) Responds to Dan Lyons' Book". Fortune.
  35. ↑ Regan, Keith (June 10, 2011). "Hubspot's West Coast attitude gets talent". Boston Business Journal. Retrieved February 27, 2012.
  36. ↑ Sarah Shemkus,"HubSpot Tops List of Large Companies," Boston Globe, 12 November 2015 (page visited 16 June 2016)
  37. ↑ "8 companies with the best vacation perks". CNN Money. June 6, 2011. Retrieved February 27, 2012.

Further reading

  • Lyons, Daniel (2016). Disrupted: My Misadventure in the Start Up Bubble. Hachette Books. ISBN 978-0316306089.
  • Halligan, Brian; David Meerman Scott; Dharmesh Shah (2010). Inbound Marketing: Get Found Using Google, Social Media and Blogs. John Wiley & Sons, Inc. ISBN 978-0-470-49931-3.
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