HubSpot (HUBS) IPO Opens Sharply Higher

Today's IPO for HubSpot (NYSE: HUBS) opened for trading at $32.95 after pricing 5,000,000 common shares at a price to the public of $25.00 per share, above the recently raised $22-$24 range.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, and UBS Securities LLC will serve as book-running managers for the offering, and Pacific Crest Securities LLC, Canaccord Genuity Inc., and Raymond James & Associates, Inc. will serve as co-managers.

HubSpot provides a cloud-based marketing and sales software platform that enables businesses to deliver an inbound experience.

Brief financial summary: Our total revenue increased from $28.6 million in 2011, to $51.6 million in 2012 and to $77.6 million in 2013, representing year-over-year increases of 81% in 2012 and 50% in 2013. Our total revenue increased from $35.1 million for the six months ended June 30, 2013 to $51.3 million for the six months ended June 30, 2014, representing a period-over-period increase of 46%. We had net losses of $24.4 million in 2011, $18.8 million in 2012, $34.3 million in 2013 and $16.3 million and $17.7 million for the six months ended June 30, 2013 and 2014, respectively.

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