Website building and hosting company SquareSpace is selling 40.4 million shares in a direct listing this week, Benzinga reports. Offering an all-in-one platform for small and medium sized businesses to manage their online presence, SquareSpace is one of the largest in the market.
SquareSpace has 3.7 million unique subscribers in 180 countries. Revenue was $621 million in 2020, up 28 percent year-over-year. In the first quarter, revenue for SquareSpace was $179.6 million.
In March, SquareSpace acquired Tock, a hospitality platform and application system, for $415 million, which could help with additional expansion.
The company estimates that 46 percent of U.S. small and midsize businesses are not online today, offering room for expansion. Read more.
