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Squarespace is a platform that offers professional services to build and maintain websites on the internet using their premium quality tools, advanced functionalities, and web hosting services. Generally, Squarespace is a software as a service offering company. Some of the major services offered by the company include hosting, pre-built website templates, tools to make blogs, and domain names for websites, etcetera. It was founded by Anthony Casalena in 2003 while he was at the University of Maryland doing his undergraduate studies.
During the short presence of the company in the market, it has made its name. Today, it is considered one of the most successful and reliable hosting and website-building platform. Some of the famous companies like HBO, Wattpad, and Avocode use the services of the company. Squarespace corporate headquarters is located in New York, New York, United States. Squarespace is also registered on New York Stock Exchange, and its symbol is SQSP. As of December 2021, its stock price lies at around $30.94, and it is considered a good buy at the moment.
General Information
| HQ Address: | 8 Clarkson St, New York, NY, United States |
| Zip code: | 10014 |
| Industry: | Internet |
| Launched: | January 2004 |
| Registration: | Required; subscription needed for certain features. |
| Website: | www.squarespace.com |
What is Squarespace, Inc.?
Squarespace is a publicly-traded American company that provides a subscription-based platform to people who are interested in making a website. Squarespace also provides hosting services and domain registration services. Their website builder is one of the most popular and convenient to use.
Where is Squarespace, Inc. headquarters located?
The headquarters of Squarespace are located in New York, New York, United States. Other than this, there is also a Squarespace corporate office in Dublin, Ireland.
Address of Squarespace Headquarters: West Village at Clarkson Street, Manhattan, New York, New York, United States.
How do I contact Squarespace corporate?
Squarespace offers a 24/7 live chat support facility. You can use it through email or Twitter. The chat support is mostly not available on weekends. If you want further details, visit their contact page by following this link.
Squarespace, Inc. History
Squarespace was founded by Anthony Casalena in 2003. The company was not a planned project; rather, when Casalena was at the University of Maryland pursuing his undergraduate, he developed Squarespace, which was only intended for his personal use. For some time, Squarespace was only being used by Casalena, his friends, and his family. At the University of Maryland, a business incubator program was inaugurated by the management of the university. Anthony decided to participate in the program. At that time, Squarespace was launched for the general public initially. It was a basic website-building tool with some other beneficial functionalities.
In the early stages, Squarespace was started with a $30,000 investment from the father of Anthony Casalena. The University of Maryland also invested in Squarespace. The company also offered 300 people a discounted subscription to get reviews and elevate the qualities of the company based on those reviews. Till this time, the company was only handled by Anthony. He was developing and improving his startup in the dorm room of his university.
The annual revenue of Squarespace in 2007 was around $1 million, and by this time, Anthony was also graduated from the university. Now, Squarespace started focusing on improving its services and considering expansion. For this purpose, Casalena moved to New York and started hiring people and making the team. By 2010, he hired around 30 employees. Squarespace also received around $38.5 million in venture capital funding. With this funding, Casalena hired more skilled staff, invested a large amount in marketing, and improved the services a lot. This was also the turning point of the company.
The annual revenue of the company increased by 266% every year between 2009 and 2012. Squarespace again received an amount of $40 million in funding in 2014. With which, they hired around 550 employees. The revenue of the company also touched an average of $100 million by this time. The major amount of the revenue of the company was being used for marketing. Squarespace rented hot advertisement spots for a long time, which helped it become more and more popular.
For about the past three years, the company is mainly focused on expanding itself by acquiring other companies. During these years, they have acquired Acuity, Unfold, and Tock, etcetera. The company was ranked 18th on Forbes Cloud 100 in 2020. However, in 2021, it was dropped off the list. In 2021, Squarespace became a publicly-traded company. It is listed on New York Stock Exchange, having the symbol SQSP. The current company valuation is around $10 billion.
Squarespace, Inc. CEO and Key Executive Team
| Names | Designations |
| Anthony Casalena | Founder, CEO, and Director |
| John Colton | Senior Vice President, Engineering |
| Raphael Fontes | Vice President, Customer Operations |
| David Lee | Chief Creative Officer |
| Paul Gubbay | Chief Product Officer |
| Source: investors.squarespace.com, squarespace.com | |
What makes Squarespace, Inc. successful?
When Squarespace was founded, there were already a couple of website building services out there, but the reason why Squarespace survived was that it was very easy and convenient to use. The customers loved the concept of interactive tools which could be used with just clicks of the mouse. This ease of use gave Squarespace an initial boost and made it a successful company.
They provide a subscription service for their innovative website builder tools, hosting services, and domain registration. They currently have over 1367 employees. The mission statement of the company says that they are trying to help people by providing them a platform for expressing their ideas and using their creativity to spread knowledge. So far, around 450,000 websites are hosted on Squarespace, making it one of the largest website builders.
Top 5 biggest Squarespace, Inc. competitors or Alternative
1. Wix
Wix.com is one of the most well-known website building services. It was founded in 2006 in Israel by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan. The official headquarters of the company are located in Tel Aviv, Israel. Wix provides a bunch of helpful tools to build HTML 5 websites.
The company is registered on the Nasdaq stock exchange. In 2019, the revenue of the company was $1 billion.
2. Shopify
Shopify is a publicly-traded Canadian e-commerce company founded in 2006. The company provides a platform for small business owners and merchandisers to sell their goods online by building a virtual store on their website. Its revenue in 2020 was $2.93 billion, and the net income of the company was $320 million.
In 2021, Shopify was ranked at 1402nd on Forbes Global 2000. It is also ranked 131st on the list of best employers in Canada.
3. BigCommerce
BigCommerce is a publicly-traded e-commerce company founded in 2009. The company provides a platform for sellers and resellers to create online stores and sell their products.
The company is registered on the Nasdaq stock exchange under the symbol BIG. The revenue of BigCommerce in 2019 was around $112.1 million.
4. Amazon
Amazon Inc is an e-commerce company founded by Jeff Bezos in 1994 in Washington, United States. Amazon also provides a facility for people to sell their products online on their website. Amazon is listed on the Nasdaq stock exchange. It is a part of Nasdaq 100, S&P 100, and S&P 500 components.
The revenue of the company in 2020 was $386.064 billion, and the net income was $21.33 billion.
5. Facebook
Facebook is a technology company founded in Massachusetts, United States, in 2004. It is a social media conglomerate. In 2020, the revenue of the company was $85.97 billion, and the net income was $28.15 billion.
It is a publicly-traded company and is listed on the Nasdaq stock exchange. It is a part of Nasdaq 100, S&P 100, and S&P 500 components.
Squarespace IPO Everything you need to know
Squarespace became a publicly-traded company on 19th May, 2021 Wednesday. The company offered their common stocks on New York Stock Exchange under the symbol SQSP. Squarespace became public by direct listing. This means that the company did not involve any third party in the process of the initial public offering.
The price of their IPO was around $48, and currently, its stock price is around $31. The CEO confessed that Squarespace stock is volatile, and after the IPO, its price may decline. The same happened.
Is Squarespace stock a good buy when considering long-term investments?
A lot of investors give a different opinion on this question. In the perspective of some investors, Squarespace stock is overhyped, and its intrinsic value is much less than its present value. On the other hand, some investors say it is a great investment opportunity as the stock has not grown to its entire potential yet. It can be said that it is a controversial stock. Let’s discuss if it is a good long-term investment or not.
According to marketbeat.com, in the consensus rating, Squarespace’s stock got 14 buys, three holds, and zero sell ratings. Its average rating score was around 2.82. Overall, the rating of this stock suggested that it is a buy at the moment. Wallstreetzen.com writes that seven investors gave it a strong buy rating, and none of the investors gave it a sell rating. This all suggests that this stock has some potential.
The all-time high price of the stock is around $64, and its current price lies at $31 as of 12th December 2021. Currently, the stock is in a dip. So, in our opinion, the present time is the best opportunity to invest in the company. It is likely that in the near or far future, your investment will be profitable.
FAQ’s
Does Squarespace, Inc. pay dividends?
As Squarespace was founded recently and the company still wants to grow and capitalize on the market by investing in its future. So, there is no dividend on Squarespace stock.
Who is the auditor of Squarespace, Inc.?
The audit of Squarespace in years 2012 and 2013 was done by Postlethwaite & Netterville. However, the current auditor of the company has not been publicly revealed.
What hosting provider does Squarespace, Inc. use?
All of the domains provided by Squarespace are hosted either by Squarespace Domain LLC or by Tucows.
Executive Summary
This article has discussed one of the most famous and authentic website building services named Squarespace. According to cnet.com, Squarespace is 2nd best website building platform available in the market. Especially when prepackaged designs are considered, Squarespace is unbeatable.
The company is not matured much to this date, and recently its final funding round ended. Still, they have made a great reputation in the market. Not only this, but the company also is very successful in terms of its revenue and net income. So, in the future, nothing can be expected from Squarespace but exponential growth.
