Permira has finish its acquisition of Squarespace. The closing happened in October 2024 for $7.2 billion, making Squarespace a privately held company again. Squarespace went public back in May 19,2021 on the NYSE.
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Today is an incredibly amazing day as @Squarespace lists on the @NYSE via a direct listing. Congratulations to our team, our customers, our investors, and everyone who has come together to make this happen. Looking forward to the next decades of innovation and even more success! pic.twitter.com/rASOW4NfbB
— Anthony Casalena (@acasalena) May 19, 2021
As part of the transaction, Squarespace Founder & CEO Anthony Casalena rolled over a substantial majority of his existing equity and continues to be one of the largest shareholders in the Company. He continues to serve as Squarespace’s CEO and Board Chairman, leading the business in all aspects of its operations, along with Squarespace’s current leadership team who have continued in their roles.
“We are excited to embark on a new chapter with Permira, one focused on our long-term strategy and commitment to serving entrepreneurs globally,” said Casalena. “For more than 20 years we have provided customers with all the tools they need to stand out and succeed. This commitment will remain the same as we continue to offer our customers more and more tools to grow their businesses online. Permira joins our long-standing investors, Accel and General Atlantic, who remain meaningful investors and believe in a dynamic future for Squarespace.”
Back In May 2024, Squarespace announced that it would be acquired by Permira, a global private equity firm, in an all-cash transaction valued at $6.9 billion. The offer was initially $44 per share, but was increased to $46.50 per share after the proxy advisory firm Institutional Shareholder Services (ISS) recommended that shareholders reject the original offer.
JP Morgan served as financial advisor to Squarespace, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Squarespace.
