In a post today on his blog “On Startups” (a great resource that has a huge following), Cambridge-based HubSpot’s co-founder and chief technology officer breaks his long silence, the quiet period that is part of the IPO process and dropped his first post in awhile, one that breaks down his experiences while taking HubSpot public.
Titled “The Day I Had To Wear Pants To Ring The IPO Bell,” Shah’s great sense of humor and genuineness really shines through. While his breakdown of the series of events that led him to buy a pair of pants for the first time in years is great; the best moment in the post is Shah relating the morning arrival at the NYSE:
The biggest “holy crap!” moment happened the morning of the bell-ringing ceremony. My wife Kirsten and I were walking up Wall Street on our way to the exchange building. Then, we saw the HubSpot logo draped over the entire building. Was not expecting that. We were floored. It was*awesome*. (It was particularly fun for my wife, who gets credit for the HubSpot logo almost 10 years ago — well before there was even a company).
Pretty cool stuff.
Also, among the interesting tidbits in the post is Shah’s breakdown of how HubSpot handled its “friends and family” stock allocation.
As Shah explained, “Instead of giving this to the traditional ‘friends and family’ like many companies do, we instead offered these shares to our partners, long-time supporters and employees. People that have helped is build the business.”
The kicker from Shah: “Of course, my mom was disappointed that she couldn’t buy at the IPO price, despite having indirectly helped the business by bringing me into the world. Sorry, mom!”