HubSpot CEO steps up to Executive Chairman as company promotes Yamini Rangan to CEO – TechCrunch
Boston-based CRM firm HubSpot today announced that co-founder and CEO Brian Halligan will take on the role of executive chairman and chief marketing officer Yamini Rangan will take over as CEO next month (7 September).
Rangan joined the company in January 2020 after stints at Dropbox, Workday and SAP. Her solid background in engineering, sales and marketing should come in handy as she takes on the role of Managing Director. It should be noted that Halligan suffered a snowmobile accident earlier this year, and although he has now recovered, Rangan ran the business in his absence, perhaps helping to lay the groundwork for that decision. Halligan wrote in a blog post announcing her decision that she was quite ready to take on the role.
âYamini has been overseeing the day-to-day operations of HubSpot since March, handling board meetings, HubSpot’s earnings call, and major hiring and growth initiatives, working closely with Dharmesh and the rest of the team. of management. She made HubSpot better by being here, and I know that trend will continue with her as CEO, âHalligan wrote.
Brent Leary, founder and senior analyst at CRM Essentials, who has followed the company since its inception, says he’s not surprised to see such a change. âWith the company just celebrating its 15th anniversary, it’s really not a huge surprise that something like this is happening. And given how successful they’ve been in growing the business at this point, you have to believe they’ve been preparing for this move for some time, âLeary told TechCrunch.
The announcement came as the company released its second quarter 2021 revenue, which looked pretty strong, standing at $ 310.8 million, up 53% from the same period last year. The vast majority, over $ 300 million, was from subscription revenue, with the remainder coming from professional services, a ratio you would expect for a company like this. The revenues put them on a good run rate of over $ 1.4 billion.
The company was founded in Boston in 2006 by Halligan and Dharmesh Shah and has raised more than $ 100 million, according to data from Crunchbase. He was an early promoter of content marketing, using quality content, often in the form of corporate blogs, to drive website traffic and increase sales. It’s something that’s widely accepted now, but when they started the business it wasn’t well known and they helped spread the word about the concept.
HubSpot then moved on to a larger CRM platform after going public in 2014. Along with Wayfair, HubSpot is one of the great success stories to come out of the Boston startup scene and go public, helping to fuel the ecosystem. startups in the city with money from the founders. made on their successful IPOs. HubSpot share is up more than 2% in after-sales news exchanges, perhaps signaling that investors are happy with the company’s transition plan.