Website-hosting service Squarespace Inc. moved ahead with plans for a direct listing, joining a cadre of technology-oriented companies that didn’t need to raise money in a traditional IPO, Bloomberg reports.
Squarespace spelled out its plans in a filing in which it also disclosed details of its finances, including 28 percent growth in revenue last year.
Squarespace is planning to list its shares on the New York Stock Exchange, the choice for every major direct listing except Coinbase. While investment banks don’t underwrite offerings as they do in IPOs, they advise the company on the listing. Squarespace is working with banks including Goldman Sachs and JPMorgan Chase, according to its filing. Read more.
