Marketing software company HubSpot is acquiring The Hustle, the business and tech media startup behind the popular newsletter of the same name.
Axios broke the news of the deal and reported that it values the startup at around $27 million. HubSpot declined to comment on the deal price, and while tweeting about the acquisition, The Hustle CEO Sam Parr wrote, “Early in my career I was transparent with money. But I didn’t like the result of sharing that stuff. So we’re not disclosing the price and HubSpot has agreed. I’m taking it to the grave!”
In its press release about the acquisition, HubSpot noted that customers are finding its products through content like its YouTube videos and HubSpot Academy.
“By acquiring The Hustle, we’ll be able to better meet the needs of these scaling companies by delivering educational, business and tech trend content in their preferred formats,” said HubSpot’s senior vice president of marketing Kieran Flanagan in a statement. “Sam and his team have a proven ability to create content that entrepreneurs, startups and scaling companies are deeply passionate about, and I’m excited to bring them on board to take that work to the next level.”
BUYERS
We've had lots of media co's try to buy us. We said no. Most ad 1st media companies are dying. And I don’t want to join a sinking, clickbait ship.
I always thought a b2b SAAS biz should buy us. But never thought they'd be bold enough to try.
But HubSpot came along.
— Sam Parr (@thesamparr) February 3, 2021
HubSpot says The Hustle’s flagship newsletter has 1.5 million subscribers. It also has a subscription offering called Trends and a podcast called My First Million.
“The goal is to build the largest business content network in the world,” Parr tweeted. “Soon, we’ll expand to a variety of mediums on a bunch of different topics and will have really innovative products coming out. We’re also going to hire the best content creators in the world.”
Hustle CEO Sam Parr & SmartNews co-founder Rich Jaroslavsky on the future of media
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