Website building and hosting company SquareSpace makes its direct listing debut today on the NYSE with a reference price of $50 per share, Seeking Alpha reports. The company expects to sell 40.4 million shares, which would result in a raise of over $2 billion.
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.
Shares list under SQSP. Read more.
