Google's Alphabet eyeing HubSpot means Salesforce has a new competitor to watch
A strange move.
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Key notes
- Alphabet eyes acquiring HubSpot, worth $32 billion.
- Discussions include Morgan Stanley and regulatory concerns.
- Despite HubSpot’s growth, no formal offer from Alphabet yet.
Alphabet, Google’s parent company, is reportedly considering making an offer to acquire HubSpot, an online marketing software company. An exclusive report by Reuters on Thursday reveals that the company is now valued at $32 billion.
Alphabet is exploring the possibility with investment bankers from Morgan Stanley and considering factors such as the offer amount and regulatory approval, which can be rocky considering recent quarrels with Biden’s administration on this field’s regulator.
HubSpot, known for providing marketing software to small and medium-sized businesses, saw a significant increase in its stock value despite posting a net loss in 2023.
Despite Alphabet’s substantial cash reserves, however, no formal offer has been made yet at the time of the publication.
HubSpot offers products in the marketing software and customer relationship management (CRM) space. Some notable competitors include big names like Salesforce, Oracle, and even Adobe’s Marketing Cloud suite.
HubSpot claims its CRM sales platform surpasses Salesforce’s. According to the company, HubSpot offers smoother integration, clearer reporting, enhanced productivity, higher deal closure rates, and inclusive 24/7 support across all plans without additional charges.
It’s a strange move from Google, indeed, as the Mountain View tech giant is facing one legal battle after another for antitrust. The number-one search engine leader had to even settle the lawsuit over tracking in its Incognito mode on Google Chrome with $5 billion in damages & had quietly updated the description of Incognito’s disclaimer.
