Website builder Squarespace announced its initial public offering on the afternoon of January 27, US time. The online website creation and hosting service is a venture company that raised Series A and B rounds in 2010 and 2014, respectively. In total, these deals are worth $ 78.5 million, according to Crunchbase data.
Squarespace is memorable for people because of the huge $ 200 million secondary round secreted by General Atlantic in 2017. A secondary round is when an outside party buys shares from existing shareholders and no new shares are issued. Some private companies perform secondary transactions when they do not require new capital but have no (regular) liquidity events in the near future.
The 2017 deal fits well with the company’s pending 2021 IPO.
At the time, TechCrunch reported that the company was in the black with sales of about $ 300 million.
Recently, more and more companies are looking to go public, with C3.ai, DoorDash and Airbnb joining the list at the end of 2020, with Squarespace joining them. Coinbase has also applied for a listing, and Robinhood is a hot IPO candidate. And this time Squarespace is throwing his hat into the ring.
Squarespace’s application is private, so the public S-1 will not be seen in the future. Regarding the current situation, the company stated as follows.
Squarespace, Inc. today secretly submitted a draft registration statement by Form S-1 to the Securities and Exchange Commission (“SEC”). This registration notification will be effective after the SEC has completed its inspection process and will be subject to the market and other conditions.
As Squarespace is a software company, a cloud company, and an e-commerce company, it is expected that investors will be less interested in applying, selling, and listing. .. It’s a kind of satire, but in fact we haven’t seen a hot IPO of software in the last few weeks.
But thank you for saving us in the slump in the news. We will be able to take a nap with peace of mind.
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life’s biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.