HubSpot appears to be inching closer to an initial public offering of stock. The Wall Street Journal reported Thursday evening that the company has picked Morgan Stanley to work on the deal.
An IPO for the Cambridge marketing software firm is expected to take place this year, though the exact timing hasn’t been finalized, the Journal reported.
HubSpot lately has been making the kind of noises that signal an impending public offering. Last month, for example, it reported its annual revenues for 2013, even though as a private company it is not required to do so. For the record, HubSpot’s revenues soared 48 percent, to $77.6 million in 2013. The company also added more than 200 employees last year, reaching nearly 700 in total.
HubSpot’s software is used by small and mid-sized businesses to lure customers to their websites, with tools for creating content and optimizing it for search. The company has also expanded to offer technology that personalizes content on websites based on who’s viewing it, as well as into offering software for salespeople.
HubSpot has raised $100 million in funding since its founding in 2006. Investors include Sequoia Capital, General Catalyst Partners, Matrix Partners and Google Ventures.