|HubSpot Inc (HUBS) Stock Soars on Shopify Tie-Up|
Karl Utermohlen InvestorPlace September 27, 2017
HubSpot Inc (NYSE: HUBS) and Shopify Inc (US) (NYSE: SHOP) have teamed up on an e-commerce partnership.
HubSpot Inc (HUBS)
The two companies have teamed up in order to integrate Shopify’s customers, its data, orders and products into the HubSpot platform. HubSpot’s capabilities will be brought to Shopify’s online merchants.
“In an era when almost every business sells something on its website, Shopify has been an invaluable partner to HubSpot. With this new integration, we’re taking that relationship to the next level,” said Brad Coffey, Chief Strategy Officer at HubSpot. “The combined power of Shopify and HubSpot gives our shared customers the tools they need to deliver even more sophisticated ecommerce marketing.”
Shopify customers will be able to see online sales in HubSpot as deals, which will be able to organize and analyze purchasing patters and measure customer lifetime value. The deal will also bring e-commerce marketers complete specific tasks, such as sending transactional emails and building workflow around shopping carts.
“We’re looking forward to deepening our relationship with HubSpot in pursuit of our shared mission to give all companies, big or small, access to the tools they need to start up and scale up,” said Tobias Lütke, founder and CEO of Shopify.
The integration between the two companies is currently available in beta, and will eventually be rolled out fully.
HUBS shares surged 10.7%, while SHOP stock grew 1.9%.