CosmicTaco

HubSpot Shares Plunge 12% as Alphabet Shelves Acquisition Plans

CosmicTaco · 2024-07-11T07:51:36.311628+05:30

- HubSpot shares dropped 12% after reports that Alphabet is no longer pursuing an acquisition. - Bloomberg cited sources saying there were no detailed discussions about due diligence between the companies. - Representatives from both HubSpot and Alphabet did not respond to requests for comment. - Regulatory pushback has affected other tech deals, including Amazon's and Microsoft's recent acquisitions. - HubSpot's rapid growth contrasts with Alphabet's, with HubSpot reporting over 20% revenue growth for the past six quarters.

HubSpot shares dropped 12% after reports that Alphabet is no longer pursuing an acquisition.
Bloomberg cited sources saying there were no detailed discussions about due diligence between the companies.
Representatives from both HubSpot and Alphabet did not respond to requests for comment.
Regulatory pushback has affected other tech deals, including Amazon's and Microsoft's recent acquisitions.
HubSpot's rapid growth contrasts with Alphabet's, with HubSpot reporting over 20% revenue growth for the past six quarters.