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.jpg) Headquarters inManhattan | |
| Type of business | Private |
|---|---|
Type of site | SaaS-based hosting platform |
| Traded as | NYSE: SQSP |
| Headquarters | 225Varick Street New York City, New York, United States |
| Area served | Worldwide |
| Owner | Permira |
| Founder(s) | Anthony Casalena |
| CEO | Anthony Casalena |
| Industry | Internet |
| Products | Website builder and hosting service |
| Revenue |  US$1.01 billion (2023)[1] |
| Employees | 1,749 (2023)[1] |
| URL | squarespace |
| Registration | Required; subscription needed for certain features. |
| Launched | January 2004; 21 years ago (2004-01) |
Squarespace, Inc. is an Americanwebsite building andhosting company based inNew York City.[2] It providessoftware as a service for website building and hosting, and allows users to use pre-built website templates anddrag-and-drop elements to create and modify webpages.
In 2003, Anthony Casalena founded Squarespace as ablog hosting service while attending theUniversity of Maryland, College Park. He was its only employee until 2006 when it reached $1 million in revenue. The company grew from 30 employees in 2010 to 550 by 2015. By 2014, it raised a total of $78.5 million inventure capital; addede-commerce tools,domain name services, andanalytics; and replaced its coding backend with drag-and-drop features. It began trading on theNew York Stock Exchange on May 19, 2021,[3] and was taken private byPermira in October 2024. According to W3Techs, Squarespace is used by 1.9% of the top 10 million websites.[4]
Casalena began developing Squarespace for his personal use while attending theUniversity of Maryland.[5][6] He started sharing it with friends and family members[5] and participated in a "business incubator" program at the university.[6] In January 2004, he launched Squarespace asdo it yourself/drag and drop website builder for the public,[6][7] with a $30,000 seed fund from his father,[8] a small grant from the university,[9] and 300 beta testers who paid a discounted rate.[6][10][11][12] At that time, Casalena was the company's sole developer and employee, and worked out of his dorm room.[6][11]
By the time Casalena graduated in 2007, Squarespace was making annual revenues of $1 million.[7] He moved to New York City, began hiring, and had 30 employees by 2010.[7][12] That year, Squarespace received $38.5 million in its first round of venture capital funding led byIndex Ventures andAccel Partners,[13] enabling it to hire more staff, continue to develop its software,[14] and double its marketing budget.[5] From 2009 to 2012, it grew an average of 266% in yearly revenue.[15] In April 2014, it received another $40 million in funding.[16][17] By 2015, it had reached $100 million in revenue and 550 employees.[7]
Squarespace purchasedSuper Bowl advertising spots in 2014,[18][5] 2015,[19] 2016,[20] 2017[21] and 2018.[22] Its 2017 ad won anEmmy Award for Outstanding Commercial.[21] In 2017, it signed a sponsorship deal with theNew York Knicks to add the Squarespace logo to their uniforms.[23]
After theUnite the Right rally in 2017, Squarespace received a petition with 58,000 signatures and removed a group of websites for violating itsterms of service against "bigotry or hatred" towards demographic groups.[24][25] In 2017, it raised an additional $200 million in funding, boosting its value to $1.7 billion.[26] This funding was earmarked for reacquiring interests from investors.[26]
In 2018, Squarespace partnered with theMadison Square Garden Company to launch the "Make It Awards", which awarded $30,000 to entrepreneurs (4 winners, totaling $120,000).[27]
Squarespace acquired appointment scheduling company Acuity Scheduling in April 2019.[28] In October 2019, Squarespace acquiredUnfold, an app founded byAlfonso Cobo that allows users to editorialize their social media content.[29] In April 2021, the company bought hospitality industry management platform Tock for more than $400 million.[30]
In early 2021, the company filed paperwork with theU.S. Securities and Exchange Commission (SEC) to go public throughdirect listing on theNew York Stock Exchange under the symbol "SQSP".[31][32][33] In March 2021, Squarespace raised $300 million in a round of funding led byDragoneer,Tiger Global,D1 Capital Partners andFidelity Management & Research Company with participation from existing investors. This funding round valued the company at $10 billion.[34]
Squarespace agreed to be acquired for $6.9 billion and taken private by Britishprivate equity firmPermira in May 2024.[35] Permira increased its offer to $7.2 billion after theproxy advisory firmInstitutional Shareholder Services recommended that Squarespace shareholders reject the original offer, which undervalued the company. The acquisition was finalized in October 2024.[36]
Squarespace is managed by CEO and Founder Anthony Casalena. Other key executives are:[37]
As of November 2022, Squarespace had more than four million subscriptions.[33] Its users employ pre-built website templates, and a variety ofdrag and drop widgets to add elements such as text and images.[14] Its developers also create custom templates that are sold to users.[14] On-screen instructions walk users through things likesearch engine optimization and setting upe-commerce.[7]
Squarespace was initially built for creating and hostingblogs.[10] E-commerce features, such as integration withStripe for accepting credit card payments, was added in 2013.[38] In 2014, more commerce features were added; a mobile version of the service was released; a separate facility was added for developers writing custom templates and features;[39] and a logo-creation app was introduced in partnership with icon designer Noun Project.[40]
In 2011, Squarespace was upgraded to version 6, with new templates, a grid-based user interface, and other enhancements.[14] Version 7, which went live in 2014, replaced its coding backend with a drag and drop interface,[41][42] and added integration withGoogle Workspace (formerly G Suite and Google Apps for Work) andGetty Images.[17] In 2016, Squarespace started sellingdomains, putting it in more direct competition withGoDaddy;[43] and added ananalytics dashboard[44] andPayPal integration.[45]
On June 15, 2023, Squarespace concluded an agreement to purchase theGoogle Domains business, including approximately 10 million registered domain names.[46][47]
