Squarespace, the popular website building platform, announced on Wednesday that it has filed for a $300 million initial public offering. This marks the company’s long-awaited and highly anticipated move to go public. This is a huge move for the company, as it positions itself to become the fourth largest tech IPO of 2021 after Coinbase, Snowflake, and DoorDash.
Squarespace’s IPO comes as the company has seen its market cap reach nearly $10 billion. This is a massive jump from a few years ago, when the company was valued at just $1.14 billion. Squarespace’s growth over the last few years is an indication of the strong demand for their website building and hosting platform.
The money raised through the IPO will be used to help finance the company’s growth and expansion. Squarespace CEO and co-founder, Anthony Casalena, has said that they plan to use the funds to invest in product development, hire new employees, and expand their sales and marketing efforts. The company also plans to use the funds to finance potential acquisitions and strategic investments.
The looming IPO is also expected to benefit many existing shareholders and investors. With the stock set to be listed on major U.S. exchanges, holders of the company’s private shares will be able to reap the rewards of the company’s increased valuation.
Squarespace IPO: From Small Startup to $300M 10B Giant
Today we are witnessing an extraordinary event — the Squarespace IPO. Over the past decade, this small startup has gone through a dramatic transformation and is now, incredibly, worth $10 billion.
Squarespace started out as a small website building platform, offering users an easy way to build and manage their own websites. This quickly gained traction, and by 2008 the company had amassed 500,000 customers. Fast forward to today, and Squarespace has become an incredibly successful integrator for e-commerce, web-based apps, content management, and much more.
The Squarespace IPO marks a major milestone for the company, with its shares now available on the New York Stock Exchange. According to analysts, the company is estimated to have boned around $300 million in revenue in 2021 — a staggering amount of money for such a young business. It’s certainly been a remarkable journey so far.
One of the key factors in its success has been Squarespace’s willingness to keep innovating and pushing the boundaries. It quickly built out its innovative drag-and-drop website building platform, helping it to become the go-to platform for streamlining the website design process. It also made substantial investments in its content management systems, allowing users to integrate their website with streaming services, analytics tools, and more.
Although the IPO has generated a great deal of media attention, Squarespace still has a long way to go — particularly when it comes to competing with larger rivals such as Wix and Shopify. It will be interesting to see how the company continues to grow and adapt to a rapidly changing digital landscape.
No matter what happens, though, today marks a huge achievement for Squarespace — and one that’s sure to be remembered for many years to come.
Squarespace Joins Elite Crowd With $300m 10b Ipo
Squarespace, a website-creating platform, recently announced that it filed for an initial public offering of up to $300 million. This follows the trend of soaring technology companies making the jump to the public markets, after setting the bar for other technology IPOs.
Squarespace, who’s creating websites saw a surge in its popularity over the past year due to the pandemic and lack of physical interactions. A large portion of services, businesses, and organizations turned to the platform to establish their internet presence. Squarespace saw a 38 percent rise in revenue to $488 million in its last financial year.
The company plans to list its Class A common stock on the New York Stock Exchange under the symbol “SQSP”. Squarespace is joining the seasoned cohort of ‘unicorn’ companies, which are firms that have achieved a billion-dollar valuation. Just recently in January, Airbnb was added to the unicorn list, after their IPO opened for trading after the first day at $148. After the close of their first trading day and their valuation of $86 billion, Airbnb became the most lucrative company on the list.
Squarespace’s net loss was just under $30 million for the first nine months of 2020 and its adjusted EBITDA for that same period was $18.7 million. With the infusion of revenue from their IPO, the company will certainly increase its market presence