Squarespace, Inc.
squarespace.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 2, 2024. Its latest SEC filing is a SC 13G/A from Nov 12, 2024.
10-Q for Q2 FY2024, filed Aug 2, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Provides website-building, domain and online-selling tools for entrepreneurs and businesses.
10-K for FY2023, filed Feb 28, 2024Squarespace enables anyone to stand out and succeed online. Our domains, website, marketing and social media management tools provide an…View ↗
Our mission is twofold - for the ease of use of our products to provide anyone the ability to participate in the opportunity that comes…View ↗
Squarespace provides tools for customers to transact in the ways that work best for their businesses, including scheduling, digital content…View ↗
How Did They Make Money?
Customers pay for annual and monthly subscriptions, generally at the beginning of the subscription period; Squarespace also earns transaction and payment-processing fees when customer sales are completed.
10-K for FY2023, filed Feb 28, 2024We primarily derive revenue from annual and monthly subscriptions to our presence and commerce solutions. Subscription revenue accounted…View ↗
We primarily derive revenue from annual and monthly subscriptions. Typically, annual and monthly subscriptions represent approximately 75%…View ↗
Revenue associated with non-subscription offerings is primarily recognized at a point in time. Included in non-subscription revenue are…View ↗
$1B
-
10-K for FY2023, filed Feb 28, 2024
$1B ↗
Who Were Their Customers?
Customers range from sole proprietors to large enterprises across industries. They find Squarespace through its direct channels, Circle experts and other partners.
10-K for FY2023, filed Feb 28, 2024Our mission is twofold - for the ease of use of our products to provide anyone the ability to participate in the opportunity that comes…View ↗
Acquire new customers: We believe there is a large opportunity for affordable, easy-to-use cloud-based solutions for online presentation…View ↗
We target potential customers through a variety of mediums, including direct response, digital advertising, social media, events, content…View ↗
CustomersView ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $7.1M in FY2023, but brought in more cash than it spent: $214.1M of free cash flow.
10-K for FY2023, filed Feb 28, 2024
$83.7MView ↗
10-K for FY2023, filed Feb 28, 2024
−$7.1MView ↗
10-K for FY2023, filed Feb 28, 2024
$214.1MView ↗
How Were They Changing?
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Oct 17, 2024
Permira completed its acquisition and Squarespace was delisted
Squarespace survived as a wholly owned subsidiary of Parent, and its stock was no longer listed on the New York Stock Exchange.
Sources
8-K, filed Oct 17, 2024
As a result of its acceptance of the Shares tendered in the Offer, Parent acquired a sufficient number of Shares to complete the Merger…View ↗
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Sep 9, 2024
Permira and Squarespace increased the cash offer to $46.50 per share
The amended offer was $2.50 per share above the previously announced transaction.
Sources
8-K, filed Sep 9, 2024
Stockholders to receive an increase of $2.50 per share over the previously announced transactionView ↗
Grew. Revenue grew 2.1x in 4 years, from $484.8M in FY2019 to $1B in FY2023, about 20% a year.
Who Did They Compete With?
Competes with Wordpress, Wix, Weebly, MindBody, Resy, OpenTable, Shopify, BigCommerce, GoDaddy, and MailChimp
10-K for FY2023, filed Feb 28, 2024Online presence solutions such as Wordpress, Wix and Weebly; Appointments solutions such as MindBody; Hospitality services such as Resy and…View ↗
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