Squarespace Raises $300M at a Staggering $10B Valuation

Squarespace, the popular website builder, has raised $300 million in a recent funding round that values the company at a staggering $10 billion [1]. The funding round was led by Dragoneer Investment Group, with participation from Tiger Global Management, D1 Capital Partners, Fidelity Management & Research Company, and Spruce House Capital. This latest funding round comes after the company filed for an initial public offering (IPO) earlier this year [2].

Key Takes:

– Squarespace has raised $300 million in a funding round that values the company at $10 billion [1].

– The funding round was led by Dragoneer Investment Group, with participation from Tiger Global Management, D1 Capital Partners, Fidelity Management & Research Company, and Spruce House Capital [1].

– Squarespace filed for an IPO earlier this year [2].

Squarespace has been growing rapidly in recent years, with over 3.9 million websites currently hosted on its platform [1]. The company’s revenue has also been steadily increasing, with $621 million in revenue reported for 2020, up from $484 million in 2019 [1].

The funds raised from the latest funding round will be used to invest in the company’s growth and expansion plans [3]. Squarespace plans to use the funds to develop new products and services, as well as to expand its global reach [3]. The company is also expected to use some of the funds to pay off debt and to provide liquidity to its early investors [2].

Squarespace’s IPO is expected to be one of the biggest tech IPOs of the year [4]. The company’s shares began trading on the New York Stock Exchange under the ticker symbol “SQSP” on May 19, 2021 [4]. The IPO raised $300 million, with shares priced at $50 each [4].