{"id":4845,"date":"2024-05-16T12:05:23","date_gmt":"2024-05-16T19:05:23","guid":{"rendered":"https:\/\/www.ultimatewb.com\/blog\/?p=4845"},"modified":"2024-05-16T12:05:24","modified_gmt":"2024-05-16T19:05:24","slug":"squarespace-announces-move-to-go-private-in-6-9-billion-deal","status":"publish","type":"post","link":"https:\/\/www.ultimatewb.com\/blog\/4845\/squarespace-announces-move-to-go-private-in-6-9-billion-deal\/","title":{"rendered":"Squarespace Announces Move to Go Private in $6.9 Billion Deal"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/www.ultimatewb.com\/blog\/wp-content\/uploads\/squarespace.webp\">    <picture>\n                <img src=\"https:\/\/www.ultimatewb.com\/blog\/wp-content\/uploads\/squarespace.webp\"\n             srcset=\"https:\/\/www.ultimatewb.com\/blog\/wp-content\/uploads\/squarespace.webp 658w, https:\/\/www.ultimatewb.com\/blog\/wp-content\/uploads\/squarespace-300x195.webp 300w\"             sizes=\"(max-width: 600px) 100vw, (max-width: 1200px) 75vw, 1200px\"\n             width=\"658\"\n             height=\"427\"\n             alt=\"squarespace\"\n             loading=\"lazy\"             decoding=\"async\"\n             class=\"wp-image-4521\" >\n    <\/picture>\n    <\/a><\/figure>\n\n\n\n<p>Website building platform Squarespace is set to ditch the public market after announcing a $6.9 billion all-cash deal with private equity firm Permira. The agreement, finalized on May 13, 2024, will see Squarespace become a privately held company.<\/p>\n\n\n\n<p>This move comes after what Squarespace describes as &#8220;nearly three turbulent years on the public market.&#8221; The company went public in 2021 via a direct listing, but its stock price never quite reached the heights investors anticipated. In fact, it opened below its initial reference price and never surpassed its opening price of $48.<\/p>\n\n\n\n<p>The Permira acquisition offers a significant premium to Squarespace&#8217;s pre-deal trading price. Shareholders will receive $44.00 per share, representing a roughly 30% increase over the 90-day average trading price and a 15% bump over the closing price on May 10th, 2024.<\/p>\n\n\n\n<p>Squarespace believes this shift will grant them greater flexibility and resources. In a press release, CEO Anthony Casalena stated the move will allow them to &#8220;invest in enabling entrepreneurs to build better online brands and more easily transact with their customers.&#8221; Casalena himself plans to retain a significant ownership stake in the company.<\/p>\n\n\n\n<p>The deal is expected to close by the fourth quarter of 2024, pending regulatory approvals. This shift marks a significant change for Squarespace, and only time will tell how it impacts the company&#8217;s future trajectory.<\/p>\n\n\n\n<p>Related: <a href=\"https:\/\/www.ultimatewb.com\/blog\/1794\/what-is-the-best-alternative-to-squarespace\/\">What is the best alternative to Squarespace?<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ultimatewb.com\/blog\/3611\/choosing-the-best-website-solution-wordpress-wix-squarespace-and-ultimatewb-compared\/\">Choosing the Best Website Solution: WordPress, Wix, Squarespace, and UltimateWB Compared<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ultimatewb.com\/blog\/2434\/would-my-website-go-down-if-i-used-wix-or-squarespace-and-they-went-out-of-business\/\">Would my website go down if I used Wix or Squarespace and they went out of business?<\/a><\/p>\n\n\n\n<p>Are you ready to design &amp; build your own website? Learn more about&nbsp;<a href=\"https:\/\/www.ultimatewb.com\/\">UltimateWB<\/a>! We also offer&nbsp;<a href=\"https:\/\/www.ultimatewb.com\/web-design-packages\">web design packages<\/a>&nbsp;if you would like your website designed and built for you.<\/p>\n\n\n\n<p><em>Got a techy\/website question? Whether it\u2019s about UltimateWB or another website builder, web hosting, or other aspects of websites, just send in your question in the&nbsp;<a href=\"https:\/\/www.ultimatewb.com\/ask-david\">\u201cAsk David!\u201d form<\/a>. We will email you when the answer is posted on the UltimateWB \u201cAsk David!\u201d section.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Website building platform Squarespace is set to ditch the public market after announcing a $6.9 billion all-cash deal with private equity firm Permira. The agreement, finalized on May 13, 2024, will see Squarespace become a privately held company. This move &hellip; <a href=\"https:\/\/www.ultimatewb.com\/blog\/4845\/squarespace-announces-move-to-go-private-in-6-9-billion-deal\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[621],"tags":[2795,2796,2793,2794,2792,535],"class_list":["post-4845","post","type-post","status-publish","format-standard","hentry","category-technology-in-the-news","tag-ditch-public-market","tag-permira-acquisition","tag-private-company","tag-privately-held-company","tag-public-company-to-private","tag-squarespace"],"_links":{"self":[{"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/posts\/4845"}],"collection":[{"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/comments?post=4845"}],"version-history":[{"count":1,"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/posts\/4845\/revisions"}],"predecessor-version":[{"id":4848,"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/posts\/4845\/revisions\/4848"}],"wp:attachment":[{"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/media?parent=4845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/categories?post=4845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ultimatewb.com\/blog\/wp-json\/wp\/v2\/tags?post=4845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}