Spredfast competitor HubSpot files for $100M IPO

Aug 26, 2014
Austin Business Journal

HubSpot Inc., a major competitor of Austin's Spredfast Inc., positioned itself Monday to get a strong financial jolt in the arm

Based in Cambridge, Massachusetts, HubSpot filed to raise $100 million with an initial public offering of shares. giving it more capital and exposure as it battles Spredfast for market share. Both companies develop software designed to enable social media marketing campaigns

HubSpot, founded in 2006, reported revenue of $51.3 million during the first half of the year. It employed 719 workers in late June, according to a filing with the U.S. Securities and Exchange Commission

Austin-based Spredfast, which was founded as Social Agency Inc. in 2008, completed a merger with cross-town software maker Mass Relevance Inc. in April. It now employs 345 workers and operates offices in San Francisco, Minneapolis, Chicago, New York, London and Sydney

Last week, Spredfast was among the 30 technology companies a Washington, D.C., consumer advocacy group asked the Federal Trade Commission to investigate for violating the Safe Harbor agreement between the U.S. and the European Union designed to protect of consumer information

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