Squarespace

Squarespace is a Software-as-a-Service (Saas)-based content management system offering website builders, blogging platforms, and hosting services. The platform allows users to build websites and ecommerce stores using templates and drag and drop tools. The platform’s pre-built templates cover a wide range of use cases, including portfolios, online stores, courses, CVs, professional services, and blogs. Moreover, it provides a range of supplementary tools including a story editor for Instagram, Snapchat, and Facebook, SEO tools, a logo builder, and tools for online appointment scheduling and monetization.

In June 2023, Squarespace entered a definitive asset purchase agreement with Google to acquire its Google Domains business for an undisclosed sum. This agreement would include the purchase of around 10 million domains hosted on Google Domains. Following the purchase, which was expected to close in the third quarter of 2023, Squarespace would act as the only domain provider for Google Workspace customers who buy a domain with their subscription for at least three years. The company  went on to launch Squarespace Payments to enable users to accept payments from their online stores securely. Additionally, the company also relaunched its domain management solution, Squarespace Domains, following its acquisition of Google Domains Assets.

Key customers and partnerships

In 2023, squarespace partnered with SoundCloud to enable SoundCloud Next Pro artists to create websites with music-themed domains. The platform had 4.6 million unique subscribers as of March 2024. 

Funding and financials

Squarespace generated USD 1 billion in revenue in 2023 and reported an operating loss of USD 7.1 million. The company expected its annual revenue to reach USD 274 million–277 million in 2024, implying a 16%–17% YoY growth. 

In May 2024, Squarespace announced that it entered a definitive agreement with Permira, a private equity firm, to go private for ~USD 6.9 billion in an all-cash transaction.