Website-Building Software Startup Company Squarespace Prepares to Go Public With Confidential S-1 Submission

By James White | Monday, 01 February 2021 | Startup, Tech

In a January 27 press release, web design software startup company Squarespace announced that the business filed a draft S-1 registration to the Securities and Exchange Commission (SEC). While details of the form were yet to be unveiled, the web development startup company said that the registration would take effect after the SEC completes its review of the statement.

Simple Web Design Tools for Creatives and Businesses

Since the startup company was founded in a dorm room in 2003 by entrepreneur and computer scientist Anthony Casalenain, the business has raised over $278 million from investors. A 2010 series A round saw investors Index Ventures and Accel raise $38.5 million in support of the startup company. Subsequently, a $40 million Series B led by General Atlantic in 2014 and a $200 million secondary market transaction in 2017 drove up funding in support of the web design business.

General Atlantic is a growth equity investment firm backing businesses and companies in the consumer, healthcare, financial services, life sciences, and technology sectors. A few of the companies found in the firm's portfolio include language-learning website Duolingo, study application Quizlet, and activewear apparel brand Gymshark.

The company headquartered in New York City offers clean and professional looking website templates, design tools, and domains. Furthermore, these websites are outfitted with an array of integrated ecommerce and analytics tools to assist aspiring entrepreneurs and startup companies in building their brand or store.

Providing an Accessible Platform for Direct-to-Consumer Businesses

Ecommerce is the way of the future for many businesses. Giant online retailers like Amazon are a testament to the success of the industry. Despite this, a survey of 351 small businesses conducted by market research company Clutch found that less than 64% of small businesses have a website. Additionally, 58% of the businesses surveyed that did not have a website at the time claimed to have a plan to build one.

Non-coding based web design tools and ecommerce integrations, like those offered by Squarespace, are key stepping stones for small businesses, startups, and entrepreneurs to find a foothold in the internet marketplace. Wix, a publicly-traded competitor in the website design industry, has a market cap of $13.81 billion and a reported revenue of $254 million in Q3 2020.

Summary

Website-building software company Squarespace recently announced its intentions to go public with a confidential SEC registration filing. The business offers an easily accessible platform with a suite of integrated ecommerce and analytics tools for those looking to create a digital presence for themselves or their company. Publicly traded companies in the same industry have posed promising financial statements, boding well for the company’s IPO ( initial public offering).

About the Author

James White

James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.