HubSpot, the marketing software company, is acquiring The Hustle, a tech media startup that publishes a newsletter of the same name. The news was first reported by Axios, which also valued the startup at $27 million.
HubSpot did not offer any comments about what the deal was worth. In a tweet about the acquisition, The Hustle’s CEO Sam Parr said that early in his career he was transparent with money. However, he added, he doesn’t like the result of sharing figures.
For that reason, he said he would not disclose the price and HubSpot agreed to do the same. He finished by saying “I’m taking it to the grave.”
Meeting the market’s needs
In a press release about buying The Hustle, HubSpot noted that customers are finding products via content like HubSpot Academy and the YouTube videos it makes.
In a statement, HubSpot’s senior Veep of marketing Kieran Flanagan said that by acquiring The Hustle, the delivery of business, education, and technology trend content in customers’ preferred formats will be easier.
He added that Sam and his team have proven the ability to create content that startups, entrepreneurs, and scaling companies are interested in consuming, which is why he is excited to bring them on board and enhance that strategy.
The future according to Parr
HubSpot reports that The Hustle’s flagship newsletter has 1.5 million subscribers, in addition to its subscription offering called Trends and a podcast it calls My First Million.
Parr tweeted that the goal is to build the largest business content network in the world. He also said that the plan is to expand to a variety of mediums covering a variety of topics, not to mention the innovative products planned for release.
He also affirmed that the company will hire the best content creators in the world.