HubSpot shares plunge 11% on report that Alphabet is shelving interest in acquiring software company

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HubSpot shares plunged 11% on Wednesday after a report said Alphabet isn’t going forward with plans to buy the software company.

According to Bloomberg, Alphabet was in talks with HubSpot earlier this year, “but the sides didn’t reach a point of detailed discussions about due diligence,” the report said, citing people with knowledge of the matter.

Representatives of HubSpot and Google’s parent company didn’t immediately respond to a request for comment.

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