In this brief segment, Jason M. Lemkin explains that HubSpot’s earlier growth was driven by its marketing platform, which eventually saturated. The company’s continued expansion now stems from its CRM product, which has “blown up.” He cites $2.5 billion in revenue and a growth rate in the high‑20% range. Lemkin argues that without the CRM, HubSpot would be a niche business worth about $1 billion and growing only at single‑digit rates, underscoring the CRM’s pivotal role in the firm’s scale and future trajectory.
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