Boston, MA
Boston VCs are pleased that HubSpot will remain an independent company | TechCrunch
For months, rumors persisted that Google, and perhaps others, were interested in buying HubSpot, a Boston-based CRM and marketing software company. HubSpot’s market cap ballooned as the rumors persisted, eventually reaching over $30 billion. But this week, Bloomberg might have finally put an end to the madness when it reported that the parties had parted ways without an agreement. Several Boston-area investors were happy to see the company remain independent.
As we wrote in April, the deal didn’t seem to make sense. For starters, that market cap would mean that Google would be paying in the same ballpark for HubSpot that Salesforce paid for Slack, a deal that was worth almost $28 billion. If they paid a multiple over the peak market cap, it would have been even more. Considering that the biggest deal the company ever made was $12.5 billion, buying HubSpot was going to be considerably outside Google’s M&A comfort zone.
What’s more, Google Cloud, which would benefit from such a sale, is firmly focused on the enterprise, and HubSpot is focused on SMBs. That’s a big reason that the rumors never added up for Brent Leary, founder and principal analyst at CRM Essentials. “A conversation I had at the end of last year with HubSpot co-founder and CTO Dharmesh Shah kept replaying in my head. He said the company remained laser focused on the SMB space with no plans of moving up market to compete in the enterprise,” Leary told TechCrunch. When combined with the price tag, he never saw it as a likely pairing, he said.
Perhaps it was all part of a banker’s fever dream, feeding the rumor mill to keep the idea alive and maybe drive up the stock price. Perhaps it’s not surprising that the stock dropped 12% after Bloomberg published its story.
But HubSpot has been at the center of the Boston startup scene since its founding in 2006. It is an example of a startup that came out of MIT before growing, scaling, going public and building a solid business. In its last earnings report, the company reported revenue of $617.4 million, up 23% over the prior year. Even with the recent drop in stock market value, it still had a market cap of $25 billion on Thursday.
“HubSpot has been a great anchor in the Boston ecosystem, spinning out a lot of startups and driving a lot of activity in the local tech scene, so I’m glad to see them stay independent and continue down that path,” said Rob May, a four-time founder and angel investor based in Boston, whose latest startup is Brandguard.ai, a tool for building generative AI guardrails.
Greg Dracon, a partner at .406 Ventures, said it’s ultimately a good thing for Boston. “While unfortunate for shareholders hoping to capitalize on a potential pop, Google already has a large presence in the region, so retaining an independent [$25 billion to $30 billion] market cap company has many advantages for the Boston ecosystem,” Dracon told TechCrunch.
Lily Lyman, general partner at Underscore VC, said she isn’t surprised the talks broke down, but a successful sale could have had a negative impact on the Boston ecosystem, at least for the short term. “In the nearer term (next one to three years), I think the acquisition would have been a net negative for the ecosystem, as it would have led to a period where innovation and cultivating great talent would have stalled as the company dealt with regulatory concerns, potential infrastructure migration over to Google Cloud infra from AWS and Gemini from OpenAI and other distractions related to the deal,” Lyman said.
But she points out that eventually, it’s likely that some of those employees would have started companies of their own. “Had it gone through, in the longer term it could have been good for the startup ecosystem here in Boston, as we might have eventually seen an exodus of great talent that would leave and start a next generation of great startups.”
Regardless, assuming the rumors of Google’s interest were true, it appears the drama is over and HubSpot remains a stand-alone company. “The good news is that Hubspot is a healthy company that continues to grow and innovate. As long as it can continue to attract great talent in this next chapter, it can continue to be a powerful force in the Boston ecosystem,” Lyman said.
Boston, MA
Red Sox rotation contender strikes out four in dominant outing
FORT MYERS, Fla. — Johan Oviedo’s first outing of the spring last week didn’t go great, as the right-hander walked three over 1 2/3 innings in a performance manager Alex Cora described as “erratic.”
His second outing on Monday went much better.
Oviedo was dominant in Monday’s 7-6 win over the Toronto Blue Jays in Dunedin, striking out four over three scoreless innings while holding Toronto to two hits and no walks. He was also highly efficient, throwing 25 of his 31 pitches for strikes while drawing five whiffs.
After allowing a leadoff single to George Springer out of the gate, Oviedo got a strikeout and a double play to quickly get out of the first. He followed that by pitching around a harmless one-out single in the second before sending the Blue Jays down 1-2-3 to finish his outing in the third.
Viewed as the likely top candidate to earn Boston’s No. 5 rotation spot heading into camp, Oviedo clearly helped out his cause with the brilliant showing. He will be in line to make his next start on Saturday.
Gonzales smokes one
Justin Gonzales, a hulking 6-foot-7 outfielder and Boston’s No. 6 prospect according to MLB Pipeline’s latest rankings, made the trip up to Dunedin with the big league club and showed off his power in breathtaking fashion.
In the top of the ninth inning the 19-year-old scorched a single that was measured at 117.3 mph off the bat. According to MLB researcher Sarah Langs’ Daily Statcast leaders, that is the second hardest exit velocity recorded by any player so far this spring. The only ball hit harder was Kansas City Royals’ slugger Jac Caglianone’s 120.2 mph double on Feb. 26.
Franklin Arias, a 20-year-old infielder and Boston’s consensus No. 2 prospect, also made the trip and got the start at shortstop. He went 0 for 3 with two strikeouts at the plate but helped turn a double play to end the bottom of the first.
Big day for Gasper
Monday’s lineup consisted largely of players who are likely to start the season in the minor leagues, but even with that being the case, Mickey Gasper made a strong impression.
The Red Sox catcher and utility player led the offense by going 2 for 3 with a home run and three RBI. Gasper had an RBI single in the top of the third and followed that by crushing a two-run home run with two outs in the top of the fifth.
Nathan Hickey (1 for 2) also had a two-run home run to put the Red Sox ahead for good in the top of the eighth, Allan Castro (2 for 3, stolen base) hit a game-tying solo shot in the sixth, Max Ferguson (1 for 2, walk) had an RBI double and Braiden Ward went 2 for 3 with a stolen base.
Watson struggles
Ryan Watson, a Rule 5 pick looking to make the Red Sox roster as a rookie, had a tough outing on Monday. The right-hander allowed four runs over 2/3 of an inning on one hit, two walks and a hit by pitch.
Watson led off the inning with a lineout before allowing a single, hit by pitch and a walk to load the bases. He then drew a run-scoring groundout before walking another batter to reload the bases. At that point manager Alex Cora lifted the rookie and all three inherited runners came around to score when minor leaguer Patrick Halligan allowed a grand slam to Blue Jays third baseman Addison Barger.
Coming up next
The Red Sox will host Team Puerto Rico in an exhibition at JetBlue Park on Tuesday night ahead of the World Baseball Classic. Left-hander Jake Bennett will get the start for the Red Sox, and Zack Kelly, Tyler Uberstine, Tyler Samaniego and Vinny Nittoli are all scheduled to pitch for Boston too. First pitch is scheduled for 6:05 p.m. and the game will be broadcast on NESN+, NESN 360 and WEEI 93.7 FM.
Boston, MA
Monster effort from Neemias Queta helps pave the way for Celtics in win over 76ers – The Boston Globe
Queta has been a revelation for the Celtics this season and helped them improbably surge into second place in the Eastern Conference. But it is unlikely he or his team envisioned nights like Sunday, when he crafted the best game of his career to propel Boston to a 114-98 win over the 76ers at TD Garden, its 11th in 13 games.
The 26-year-old center finished with 27 points and 17 rebounds and received ‘MVP’ chants several times in the fourth quarter.
“I thought he’s had great ownership and responsibility to what it calls for to be a starting center for the Celtics, and he’s got to continue to get better,” Mazzulla said. “He works at it. He cares. So, it’s a credit to him.”
The Celtics, who entered the night averaging 17.1 second-chance points per game, poured in 30 Sunday, with Queta leading the charge. With 76ers center Andre Drummond often playing up and trying to congest the lanes for Boston’s talented ballhandlers, Queta forcefully and quickly found space around the rim.
“We just gave him the ball and trusted him to make the right decision every time, and he was able to get it going,” forward Jaylen Brown said. “He had some nice up-and-unders in the seam and stuff like that that helped propel us to a win.”
Brown added 27 points, 8 rebounds, and 8 assists for Boston.
Tyrese Maxey had 33 points to lead the 76ers, but they did not come easily. The All-Star guard played 43 minutes and made just 12 of 34 shots. Philadelphia was without star center Joel Embiid (oblique).
“He didn’t have a ton of layups, didn’t have a ton of free throws,” Mazzulla said of Maxey. “I thought he obviously missed some good shots, but when you have the ball as much as he did, I thought we did a really good job just being disciplined, defending without fouling, keeping him out of transition.”
The Celtics improved to 40-20, with just 22 games remaining in the regular season. After the game, there was a visible reminder of what could be on the way.
Star forward Jayson Tatum, who could be nearing a return from last May’s Achilles injury, sat at his locker and laughed and joked with team staffers. He also posted the latest clip from the NBC docuseries about his comeback on his social media accounts.
For now, of course, the Celtics continue to plow forward without him. On Sunday, Boston quickly wiped away an early 10-point deficit behind Queta. He registered five offensive rebounds in the opening period, and flashed an unusual amount of offensive creativity during his dominant second quarter.
During one stretch, he danced through the lane for a basket, converted a putback, then dazzled the crowd by trailing a fast break, taking a pass from Brown, and converting an acrobatic scoop shot that gave Boston a 40-35 lead.
“We don’t want him to get too carried away with some of those,” Brown said, smiling. “But he was converting them tonight and it looked good.”
Queta reminded everyone that much of his value comes from his defensive work when he swatted a Kelly Oubre Jr. shot out of bounds, and he received a rare standing ovation when he checked out moments later.
Finally, after a well-executed two-for-one opportunity, Brown found Baylor Scheierman, who played with a splint on his broken left thumb, in the right corner; he hit a buzzer-beating 3-pointer that gave Boston a 62-50 lead at the break. Scheierman gave a high thumbs-up with his bandaged digit.
The Celtics led by 16 early in the third quarter, but the 76ers continued to push back. Three-pointers in the final minute by Quentin Grimes and Maxey made it 89-83 at the start of the fourth.
The 76ers trailed by 6 with four minutes left in the fourth quarter but missed their next five shots, any one of which could have put real pressure on Boston.
With 2:56 left, Queta converted a layup as he was fouled, stretching the lead back to 105-97. He received ‘MVP’ chants for the second time in the quarter when he went to the foul line. Then, with 1:56 left, he put an exclamation point on his memorable night by grabbing yet another offensive rebound and throwing down a two-handed dunk that made it 109-98.
“I thought Neemi matched and exceeded the [76ers] physicality,” Mazzulla said.
Adam Himmelsbach can be reached at adam.himmelsbach@globe.com. Follow him @adamhimmelsbach.
Boston, MA
Bruins Believe They ‘Didn’t Do Enough’ In Loss To Flyers | NESN
The Boston Bruins suffered a 3-1 road loss to the Philadelphia Flyers on Saturday.
Boston entered the game in points in eight-straight games, as the Bruins are competing for a playoff spot. However, Boston’s offense struggled on Saturday, as the Bruins scored just once on Dan Vladar, and head coach Marco Sturm felt like the team didn’t do enough to create more scoring chances.
“(Vladar) played really good, he kind of made those saves he needed to,” Sturm said as seen on NESN’s postgame coverage on Saturday. “We just didn’t do enough of a good job being around him or being front of him.”
Although Sturm didn’t like Boston’s play, Vladar still made some key stops when the game was close.
Bruins forward Morgan Geekie had multiple chances and was frustrated that he couldn’t score on any of them.
“Just one of those nights,” Geekie said. “Their goalie played well. Couldn’t quite put it in the spot I wanted to a couple times and Dan made a couple great plays.”
Boston’s lone goal came from Charlie McAvoy, while Jeremy Swayman made 14 saves on 16 shots, as Philadelphia added an empty-netter to secure the win.
With the loss, the Bruins fell to 33-21-5 and are holding onto the final Wild Card spot. Boston will return to the ice at home on Tuesday against the Pittsburgh Penguins.
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