Boston-based inbound marketing company HubSpot has begun the process for its initial public offering and is working with Morgan Stanley on a potential deal, according to the Wall Street Journal.
Sources close to the company said that the IPO will take place this year, though the exact timing is unknown.
HubSpot saw revenues of $77.6 million, which was a growth of around 50 percent , in 2013 – a bit slower than its 82 percent growth in 2012. Over the last 12 months, the firm has also introduced three new offerings – Signals, Social Inbox, and the COS (HubSpot’s Content Optimization System) – to its product menu.
A month ago, the company's CMO Mike Volpe told BostInno via email:
2013 was a big year for our company in terms of growth, not just for revenue, but also for employees, international expansion and the inbound movement. Our goal has always been to be a once-in-a-generation company and we are very grateful to the customers, partners and employees who are helping us achieve that goal with remarkable results like we saw this past year.
The firm's initial public offering means sizable returns for a number of Boston VCs. Since its start in 2006, HubSpot has raised $101 million from General Catalyst, Matrix Partners, Scale Venture Partners, Google Ventures and Charles River Ventures, as well as Sequoia Capital. General Catalyst partner Larry Bohn sits on HubSpot's board of directors.
Boston's been buzzing about HubSpot's IPO for some years now, and it looks like the process is finally underway. Stay tuned to BostInno for the latest on the company's IPO.
