Last week, two key members of HubSpot’s engineering team, chief product officer David Cancel and engineering vice president Elias Torres announced that they were going to be leaving the company in the fall to work on a new startup.
A couple of other employees will be departing for new projects as well, including Joshua Porter, HubSpot’s director of UX.
Porter was a co-founder of Performable, which was acquired by HubSpot in June 2011. Cancel and Torres were also part of the $20 million Performable acquisition; Cancel was the company’s chief executive.
While at HubSpot, Porter spun out his own project, The What to Wear Daily Report.
In addition to Porter, Keith Frankel, HubSpot’s head of creative and design, will be moving on to another role at Tablelist.
According to HubSpot’s media relations manager Katie Burke, it wasn’t a shock that Porter would move on, mainly due to the success of his other project. Frankel’s move was a bit more abrupt as he was working on HubSpot’s INBOUND conference in September. Burke said that the departures shouldn’t have too big an impact on HubSpot as neither had senior-level leadership role.
The question, which Scott Kirsner asked last week, is what effect, if any, more departures will have on HubSpot’s expected initial public offering.
Word on the street is that HubSpot had planned to go public in June and then pulled the IPO due to less than ideal market conditions. As Kirsner speculated, pushing back the IPO may have influenced the move by Cancel and Torres. If that is the case, the departures of Porter and Frankel may be related.
Either way, it’s a rough patch for the inbound marketing giant that many have pegged as both one of the next big Boston IPOs and a potential “pillar company.”