Cloud marketing company HubSpot files $100m IPO
HubSpot, the cloud marketing automation vender, has filed for an $100m IPO.
Stating revenue of $77.6m in 2013, the company plans to trade on the New York Stock Exchanges as HUBS.
It stated in the SC filing: “We expect to increase our investment in sales and marketing as we continue to expand our sales teams, increase our marketing activities and grow our international operations. We also expect to increase our investment in research and development as we continue to introduce new products and applications to extend the functionality of our platform.
“We also intend to invest in maintaining a high level of customer service and support which we consider critical for our continued success. We plan to continue investing in our data centre infrastructure and services capabilities in order to support continued future customer growth. We also expect to incur additional general and administrative expenses as a result of both our growth and the infrastructure required to be a public company. We expect to use the proceeds from this offering to fund these growth strategies and do not expect to be profitable in the near term.”
The company states in the filing that its typical customer is a medium-sized business of between 10 and 2,000 employees, paying an average $8,823 per customer per year.