Cambridge marketing software firm HubSpot said on Wednesday that it will acquire The Hustle, a media company focused on business news and insights, to enhance the type of content it offers.
Kieran Flanagan, the senior vice president of marketing at HubSpot, said in a press release that HubSpot’s clients have been seeking new mediums for consuming information.
The Hustle is known for its “old school, inbox-cluttering freakin’ ” e-mail newsletter, which delivers catchy business news to young professionals. The newsletter reaches more than 1.5 million readers daily. The company was founded in 2014 in San Francisco.
“More recently, our customers have started to seek out news and trends-based content across new forms of media like podcasts, newsletters, and research,” Flanagan said. “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.”
The Hustle also produces a podcast and publishes reports on industry insights, called Trends, which according to its website covers the “up and coming market opportunities you need to know about.” The company calls the subscription-based Trends service a “Netflix for Entrepreneurs.” All content on The Hustle is intended to help small businesses and entrepreneurs grow their companies.
“I started The Hustle with the mission to help give business builders the information they needed to put their dent into the world and change how media companies operate,” said Sam Parr, founder of The Hustle, in the release. “By joining the HubSpot team, we’ll take that mission to the next level to build the best business content networks in the world.”
A source familiar with the acquisition told Axios that the deal is valued at about $27 million and is expected to close next week.
“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,” Flanagan said.
HubSpot was not immediately reachable for comment.