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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

U.K. sends patrol ships to British island amid fishing dispute with France

The HMS Tamar, one of the two ships deployed to Jersey. Photo: Finnbarr Webster/Getty Images

The United Kingdom's government announced Wednesday it has deployed two Royal Navy patrol vessels to the island of Jersey "as a precautionary measure," as tensions over fishing rights escalate with France.

Why it matters: British Prime Minister Boris Johnson said in a statement the government took the action to protect Jersey against threats of "a blockade" of French fishing boats at the island, which is off the coast of northwest France.

Social media's "in-kind contribution to Biden"

Photo illustration: Annelise Capossela/Axios. Photo: Mark Wilson/Getty Images

Facebook's continued suspension of Donald Trump's account extends the silencing of Joe Biden's most potent critic — and the current president's control over the national political narrative into his second 100 days.

Why it matters: Biden has been able to successfully focus on COVID-19 relief, his infrastructure plan and fielding his new administration, in part, because Trump hasn't been able to shake his social media muzzle and bray about the migration crisis or any White House misstep.

5 hours ago - Politics & Policy

Liz Cheney's long game

Illustration: Aïda Amer/Axios

Rep. Liz Cheney (R-Wyo.) is all but rolling out the red carpet for her own ouster as House GOP conference chair next week and her expected replacement with Trump defender Rep. Elise Stefanik (R-N.Y.).

Why it matters: Cheney’s political falling out with House Minority Leader Kevin McCarthy (R-Calif.) is the ultimate proxy war between Republicans who remain beholden to a former president who falsely claims the election was stolen from him, or breaking free from Donald Trump to refocus on traditional conservative values.