A pioneer in the field of marketing, HubSpot, Inc. was founded in 2006 and has since grown to serve around 11,000 companies in over 70 countries, according to their official website. Since their beginnings, they've claimed that the fundamental way customers search for products and services has changed. Now, the tech company has just recently entered the New York Stock Exchange with an initial stock price of $25 per share, raising $125 million, according to Direct Marketing News.
"Though this has been a long journey, we feel we're at the starting line right now," HubSpot CMO Mike Volpe told DMN. "We really believe that the way people research and buy products has changed, and millions of companies need to change how they do marketing."
The company is one of the foremost authorities in inbound marketing — a marketing strategy aimed at pleasing potential clients with interesting and valuable information rather than using conventional interruptive marketing measures like commercials and radio spots. Critics have claimed that the rapid success of HubSpot and its IPO may reflect the potential for other digital media marketing companies in the largely vacant industry.
"This IPO serves to remind us how big and untapped this market really is," Raghu Raghavan, CEO of marketing automation provider Act-On told DMN. "In North America alone, there are well over a million organizations in need of marketing automation, and HubSpot and Marketo between them address less than 2 percent of this market."
For eager investors, or those interested in observing HubSpot, CMS Wire recommended waiting and watching the company — trading under the HUBS symbol — to see how well it performs on the NYSE in the coming weeks.