On Thursday, HubSpot, which priced its shares on Wednesday at $25, raising $125 million, started publicly trading on the New York Stock Exchange.
Co-founders Brian Halligan and Dharmesh Shah rang the opening bell, and a huge contingent of HubSpotters gathered on the trading room floor for the occasion.
Minutes after the company’s stock started trading, J.D. Sherman HubSpot chief operating officer said, “It’s such a great outcome. To launch the company like this on the New York Stock Exchange, makes it feel like a victory.”
The company definitely had a great time. Almost everyone had an article of clothing in HubSpot’s signature orange, whether it be a tie, pocket square, or the orange sunglasses sported in the box during the ringing of the bell.
While I was interviewing Sherman and co-founder and chief technology officer Dharmesh Shah, an NYSE trader come over to the duo and said, “That was one of the best bell ringings I’ve seen in here, and I’ve been here for awhile.”
HubSpot started trading at $32.95, and closed the day at $30.10, up more than 20 percent from its initial pricing. There has been some early surprise that HubSpot did so well on its first day of trading while most other stocks seemed to falter, including Wayfair, which was down 14 percent.
“This is big for Boston,” said Shah.
Sherman echoed Shah’s statement, saying, “We want to be around Boston for a long time. That’s why this outcome is great.”
HubSpot has said that it wants to be a Boston “pillar” company; it is already developing the next generation of entrepreneurs, including founders and leadership team members at InsightSquared, Jana Mobile, BuySellAds, and others.
On what this truly means for the Boston tech community, Shah said, “More entrepreneurs. More startups. That’s the hope.”
“It’s not just let’s build a great company, but build some great entrepreneurs, which we’ve already started to do,” he added.