The Hustle, an Austin-based media company focused on business growth, has been acquired by software company HubSpot.
Starting out as a simple email newsletter in 2016, The Hustle, has grown to reach over 1.5 million readers and has incorporated a podcast, "My First Million" and a premium research platform, Trends, in order to give entrepreneurs insight and practices to help grow their businesses.
HubSpot The Hustle 🤝 High-quality content for scaling companies— HubSpot (@HubSpot)1612451668.0
The media company is being acquired for an undisclosed amount. Sam Parr, CEO and founder of The Hustle, said in a Twitter thread that he would be taking that number "to the grave."
In the acquisition by HubSpot, a customer relationship management platform for growing companies, The Hustle aims to give the company more ways to educate its community through more diverse media.
In a statement on The Hustle's latest newsletter, the media company said the acquisition will also allow them to produce more material, including podcasts, products and other original content while maintaining the free daily email subscription they were founded on.
According to Parr, this is not the first time a larger company has attempted an acquisition. He said most ad-first media companies are going out of business, and he didn't want to join forces with anyone who used that model.
HubSpot is a business-to-business software service company—one of the only kind of business models Parr wanted to be bought by.
What really sold Parr on the purchase though, was when, according to him, HubSpot's CEO, Brian Halligan said, "We want to keep you guys weird, keep your content cool—but put more resources behind it."
In terms of how Parr plans on celebrating the acquisition? He has one thing in mind for his wife: THE outfit.
THE OUTFIT— Sam Parr ⚪️ (@Sam Parr ⚪️)1612395844.0
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