The Ledger, every show

“I don't think there was collusion going on, but definitely Morgan Stanley and Fidelity were on the same side of the table trying to get us to sell at a lower price.”

“Like we hired so many people from Salesforce and Google, Microsoft, like a hundred percent, you know, attrition rate on all those folks.”

“But I think ye olde enterprise sales, where there's actual trust built up between two carbon based life forms, I think will be very, very, very late to go in the white collar world.”

“I think every knowledge worker will have one of these in three, four or five years, but mine was more on the go to market side where I think every website will change and there'll be a, an all knowing avatar on that homepage.”

“I think within the next couple years, There'll be a real retrenchment in valuations in some will live up to valuations a lot. And like, if I look at the public markets, they're very tight right now. It's like the anti bubble. I look at private valuations. It's…”

“I don't know any of the founders I work with that have work-life balance. By the way, this is not something I recommend. I didn't have it. I don't think my co-founder Dharmesh had it. None of the CEO, the only CEO I know And he's unusual in this way is Kareem …”

“Sass was in a downturn. There's a Sass. And it started, I don't know when it started, but I think it ended in Q three. If you look at the SaaS company's numbers, see it through Sequoia, see it through all my HubSpot dashboards where I see our customers. It fel…”

“I think over the next five years, that's going to change a lot. I think Google's going to have to change a lot, and I think people are going to spend more and more of their time inside ChatGPT, and they're all ChatGPT's competitors.”

“I think you're going to see a lot more small, big companies, and you're going to be able to get a lot more done with a lot less people. I don't think in a billion dollar company, you're going to need three, four, 500 person marketing organizations.”

“Most scale-ups Aren't that good at hiring? And I think there's a fair amount of luck involved and have, they don't have a great hit rate. I think 50% within the first year and a half is close to. What most companies are in scale up mode.”

“They bought four marketing companies in one year and we went from being their best partner to kind of an enemy.”

“And I think this will happen, all B to B enterprise software will turn, turn into consumer software, where they'll come over a tripwire, And they'll buy the software in a much more natural way. And sales reps can call on customers versus on prospects.”

“All the competitions up in the enterprise, SMB is where I think the next big, giant companies are going to go.”

“We wanted to go out at 25. Morgan Stanley said we should go out at 24. And the reason we should go out at 24 is Fidelity has told us That they're in at 24, they're out at 25. Ok, and you really want Fidelity, because Fidelity has trillions of dollars, and they…”

“The founders make the decision on what the price is. So Dylan decided at the end of the day.”

“It was in the throes of the recession back in and we went up and down Sand Hill road, like Darmesh and I get off the plane from Boston, landed in Sand Hill road. We're like, we got this. We're going to go up and down. It's like 20 meetings. And we go all 20 me…”

“And I think Skoy is really smart. I suspect HubSpot was one of the reasons why they said, Let's hold these companies after they go public. It's back in some cases, but I think it's going to work over the long haul.”

“I would guess I coach tons of CEOs. On average for every director, VP, C-level person that's hired within 18 months, they're gone.”

“One of the things he does is he criticizes in public. Okay, so he's got his team, he's got 40 direct reports, which is pretty weird, or 50 direct reports, and if somebody says somebody disagrees with or does something that he didn't like, he will in front of e…”

“I think you're doing an acquisition under ten billion, unless it's super strategic. I don't think it gets a long look from the regulators. I think those flow through and they happen pretty quickly.”

“I went out to Marketo CEO and proposed Marspot to merge the company's merger of equals. I offered them the CEO gig. They weren't interested in the time.”

“One of the things that's not going to work is using AI to just create tons of content. I think Sam Altman and all the people building the other models are going to look at similar signals to Google. They're going to say how many links are into the site with th…”

“Like if you look at HubSpot back maybe in 2012 when you wrote that article, like our customer dollar retention was probably 70%, and our upsell was maybe five, so we were 75% total. And now that seventy's gone to plus or -90%, and so the customers are much hap…”

“We focused on, like, a very wide, like, huge surface area, and we absolutely sucked at all of it, and then over time we just got better and better and better and better. It took about 10 years before, okay.”

“Eventually the US is going to figure that out and tax carbon.”

“Like there's going to be a whole stock market. You think there's a stock market, there's a commodities market, there's NASDAQ, there's the New York Stock Exchange. That's going to happen for carbon and think of all of the businesses that happened around that m…”

“Having said that, the ARPU of HubSpot hasn't changed that much over our 14 years.”

“In fact, the retention rate of our customers that come through our channel is a little bit better than the retention rate of our customers that come through the direct channel.”

“So our channel, like we do a billion in revenue, our channels by, if you add in the partners, it's five billion.”

“Approximately, on the two to 20 employees, it's about a thousand dollars to acquire a new customer, and it's about 5000 dollars in value we get over time from that. In the mid-market, the 20 to 200 employees, I'm gonna guess again, it's this rough, it's probab…”

“More than half our revenue is freemium these days, and so the product and the growth team within product really owns a lot of that”

“Every one of the CEOs I work with has the same problem, and that's a scaling limit. That was the limit for me. I wasn't trusting enough.”

“Zendesk at the time went out. And it was just, it was timing, and it was just a shaky week that they went out, and they just didn't get, they didn't get the big long onlys, and they had a good story, and they didn't get them, and they never really got them. Th…”

“If you go from that date and you look at you look at Oracle and you look at SAP, they're both growing, like, 230%. The only SaaS company since August 22 It's growing faster. Shopify. They're growing 300%. So they're outpacing HubSpot, Salesforce, Adobe Box, At…”

“You go to HubSpot's management team now, It's different. Everybody's been there at least 10 years. They grew up in their career with us, our head of product, our head of engineering, like pretty much everybody.”

“And we lost, I remember, of the thousand customers we had in the beginning of the year, we lost like 700 of them, like just terrible churn rate in 2009.”

“In this one particular trip, we had, like, whatever, 17 meetings with VCs and got 17 notes in a row.”

“Our retention rate was really, we were losing seven percent of our customers a month.”

“We actually closed around with Sequoia and some of the proceeds we're going to use. We're going to acquire a company in what we call most of the middle of the funnel, the database size, segmentation, drip marketing, all that stuff. We made a bid for par dot. C…”

“We flipped that and we said every, every employee, the terminology is a little different, but basically every employee at HubSpot, frontline support person, anyone, they're all officers. So they all have the same access to information. Everyone's locked into c…”

“The first week of COVID, we have, we had a starter edition. It was kind of expensive. And then we said, you could now buy, it was maybe 253 hundred bucks. I can't remember. But we said, we're going to lower the price. If you buy the whole suite, sales, marketi…”

“The first version of HubSpot was built by Dharmesh and these two guys in Egypt that he found through found online. Put a test out there. And Far Maui, and I forgot the other guy's name, and they built, like, the prototype of, those three built the prototype of…”

“No one else was doing freemium in the CRM space.”

“50% of them need a bunch of help and they'll buy through an agency partner or a CRM implementer. We have like 5000 of these partners.”

“So, you know, when we look at that, we look at the five to one. It's like two to one on other software products plugged into HubSpot.”

“And the reason we're accelerating today, as you mentioned, our revenue is accelerating. It's that we made a bet two and a half years ago that we were going to build and we did a bunch of stuff at the platform level and we're getting the return on it today. Tha…”

“We get ten million visitors a month through SEO.”

“Everything we buy, our CIO buys at HubSpot, starts with a little project at the edge of the organization. Some developers tinkering with something, couple salespeople, couple marketers, and then it ends up on the CIO's desk is, boy, we're using this stuff, we …”