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HubSpot Stock Rises On New Payment System Developed With Stripe

HubSpot (HUBS) rolled out a payments system at its Inbound customer conference on Tuesday, marking a move further into e-commerce for the seller of digital marketing software. HubSpot stock rose on the news.




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The Cambridge, Mass.-based company hosted its 2021 customer conference virtually on the internet. HubSpot also will hold an analyst meeting during the conference.

Heading into the conference, Morgan Stanley analyst Stan Zlotsky said in a note to clients that it remained unclear whether HubSpot would update its long-term financial targets.

HubSpot said it teamed with privately held Stripe to develop the payments system.

HubSpot stock rose 6.2% to near 725 in midday trading on the stock market today. In addition, HubSpot stock is extended from an entry point of 574.93.

HubSpot Stock Expands Into Customer Relationship Management

HubSpot sells sales and marketing software to small and midsize businesses. It focuses on digital channels such as blogs, internet search engines and social media.

HubSpot stock is geared around its ability to attract people to customer websites and optimize content so that visitors are converted into paying customers. The company has expanded beyond marketing into sales automation and customer relationship management products, or CRM.

Stripe in March raised $600 million in a new funding round that gave it a $95 billion valuation. That’s up from $36 billion in April 2020. It’s not clear if Stripe will launch an initial public offering in the near future.

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Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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