Aug 25 Marketing software provider HubSpot Inc
filed with U.S. regulators on Monday for an initial public
offering of common stock.
The Cambridge, Massachusetts-based company listed Morgan
Stanley, UBS and JP Morgan among the underwriters to the IPO. (bit.ly/VKWVG4)
HubSpot, which runs software that helps local businesses
with online advertising and marketing, had more than 11,000
customers as of June 30.
The company counts funds affiliated with Sequoia Capital,
Charles River Ventures and General Catalyst Partners among its
The filing included a nominal fundraising target of about
$100 million, but did not reveal how many shares HubSpot planned
The company intends to list its common stock on the New York
Stock Exchange under the symbol "HUBS".
HubSpot's revenue more than doubled to $77.6 million from
2011 to 2013, while its net loss attributable to common
stockholders grew to $34.3 million from $25.5 million.
Marketing software company Yodle Inc, backed by investors
such as Draper Fisher Jurvetson, Bessemer Venture Partners and
Jafco Technology Partners, also filed for an IPO in July.
Other recent public offerings in the sector include Tremor
Video Inc, YuMe Inc, Rocket Fuel Inc
and Criteo SA.
HubSpot intends to use the proceeds from the IPO for
research and development, acquisitions and general corporate
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.
(Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey
and Simon Jennings)