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HubSpot, a publicly-traded sales and marketing software company, is acquiring The Hustle, an email newsletter and content company targeted at entrepreneurs and small business owners, sources tell Axios. The deal is expected to close next week.

Why it matters: Hubspot has long invested in using content to help educate its existing and potential customers about business trends, primarily through its web blog. The deal will help it double down on that effort. The Hustle's daily business newsletter has more than 1.5 million subscribers.

  • The deal could also help HubSpot generate leads to acquire more customers without having to pay for lots of ads on Google and Facebook.

Details: The deal is valued at roughly $27 million, a source familiar with the terms tells Axios.

  • The Hustle makes most of its money from advertising and a small portion from subscriptions to its premium research arm called Trends. Its events business was sizable, but has been impacted by the pandemic.
  • The company has raised a little over $1 million in funding from seed rounds. Sources say the company is profitable.
  • All of the company's roughly 30 full-time employees are expect to remain.

When contacted for comment, HubSpot noted that it already has a large community of people who go to HubSpot's blog to get information around business trends and ways to grow and scale companies.

The big picture: Niche media is becoming a powerful customer acquisition tool and retention tool.

  • For example, Penn National, a casino operator, invested $163 million in Barstool Sports for a 36% equity stake. Its ownership presumably will help it lure sports bettors.

What's next: Paperwork has been delivered to shareholders for their approval, with closing expected next week.

Go deeper

22 mins ago - Sports

Suni Lee wins bronze medal in uneven bars

Photo: Laurence Griffiths/Getty Images

U.S. gymnast Sunisa "Suni" Lee won her 3rd Olympic medal on Sunday, taking home bronze in the individual uneven bars event.

Driving the news: Also on Sunday, U.S. gymnast MyKayla Skinner won the silver medal in the vault on Sunday after stepping in for Simone Biles, who withdrew from the event to prioritize her mental health and well-being.

Updated 1 hour ago - Sports

The Olympic events to watch today

U.S. diver Krysten Palmer. Photo: Clive Rose/Getty Images

5 events to watch today...
  • 🏃 Track & Field: Watch the men’s 100m final at 8:50 a.m. ET on nbcolympics.com
  • 🏐 Men’s volleyball: USA plays Argentina in the group stage at 8:45 a.m. on NBC.
  • 🤸 Gymnastics event finals: Watch the replay of the men's floor exercise and pommel horse, as well as the women's vault and uneven bars starting at 9:30 p.m. on NBC.
  • 🤽Men's water polo: USA takes on Greece in group play at 10:30 p.m. ET on CNBC.
  • 🏊Women's springboard final: Watch the replay tonight on NBC.

In photos: Tokyo Olympics day 9 highlights

Team USA's Ryan Murphy, Zach Apple, Michael Andrew and Caeleb Dressel celebrate winning gold in the final of the men's 4x100m medley relay swimming event during the Tokyo 2020 Olympic Games at the Tokyo Aquatics Centre in Tokyo on Aug. 1. Photo: Odd Andersen/AFP via Getty Images

Day nine of the Tokyo Olympic Games Sunday saw the final day of swimming competition end with a historic win for Team USA.

The big picture: The U.S. men's 4x100-meter medley relay team set a new record world as they won the final and Caeleb Dressel earned a fifth gold — becoming the fifth American to do so. Team USA's Bobby Finke won the 1,500-meter freestyle.