Alphabet has not yet submitted an offer to HubSpot and there is no certainty it will do so, the sources said, requesting anonymity to discuss confidential deliberations.
We continue to focus on building a great business and serving our customers,” a HubSpot spokesperson said.
Alphabet shares were down 1% at $153.34.
HubSpot, which listed in the stock market in 2014, provides marketing software to companies that typically have up to 2,000 employees.
Google is facing several antitrust challenges, including a landmark lawsuit accusing it of abusing its position as online search leader.
Anirban holds a history degree from Jadavpur University and a post-graduate diploma in journalism from the Indian Institute of Journalism & New Media.
Milana previously worked at GLG and PE Hub, where she spent several years covering TMT deals in private equity.
She graduated from CUNY Graduate School of Journalism with Masters in Business Journalism.
The move by Alphabet to pursue a bid would be unprecedented in the history of the technology industry as a major player attempting a mega deal in the face of increased regulatory scrutiny under U.S. S. the administration of President Joe Biden.
A portion of Alphabet’s cash pile, which hit $110.9 billion at the end of December, could be put to use in the possible acquisition, which would be the company’s largest ever.
According to the sources, who asked to remain anonymous in order to discuss private discussions, Alphabet has not yet made an offer to HubSpot and there is no guarantee that it will.
HubSpot typically refrains from addressing rumors or conjecture in its comments. We’re still committed to growing our company and providing excellent customer service, a HubSpot representative stated.
Requests for comments from Morgan Stanley and Alphabet were not immediately answered.
On Thursday, HubSpot’s stock increased 11% to $693 following the announcement. At $153.34, Alphabet’s shares saw a 1% decline.
In 2014, HubSpot went public on the stock market and offers marketing software to businesses with up to 2,000 employees on average.
In 2023, it brought in $2.22 billion in revenue and recorded a $176.03 million net loss. Investor excitement over the Cambridge, Massachusetts-based company’s growth prospects has driven up its shares by 50% in the last 12 months, despite this loss.
Google is being sued for antitrust violations in a landmark case, which also accuses the company of abusing its dominant position in online search.
According to Dealogic, technology accounted for the largest share of mergers and acquisitions during the first quarter, increasing by more than 42% year over year to approximately $154 billion.
Editing was done by Richard Chang, Nick Zieminski, Chizu Nomiyama, and Anirban Sen in New York; additional reporting was done by Jeffrey Dastin in San Francisco.
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Anirban Sen is the U.S. Editor-in-Charge. s. MandA at Reuters in New York, where he oversees the largest deal coverage. In 2009, Anirban began working for Reuters in Bangalore. He left the company in 2013 to work as a technology deals reporter for several of India’s top business news publications, such as The Economic Times and Mint. Returning to Reuters in 2019, Anirban oversaw a group of reporters covering investment banking and venture capital as Editor in Charge of Finance. Anirban graduated with a degree in history from Jadavpur University and a postgraduate journalism diploma from the Indian Institute of Journalism & New Media.
Technology, media, and telecommunications (TMT) mergers and acquisitions are the focus of Milana Vinn’s reporting. Her writing typically appears in the website’s deals and markets sections. Milana got her start in the industry covering TMT deals in private equity at GLG and then moved on to work at PE Hub. Her Master’s degree in Business Journalism was awarded by the CUNY Graduate School of Journalism.
