Permira Completes Acquisition of Squarespace
Six months after entering into the deal, Permira, the London-based global investment firm, on Thursday announced the completion of its funds’ acquisition of Squarespace, Inc., in an all-cash transaction that valued the company at an aggregated transaction value of approximately $7.2 billion.
With the completion of this acquisition, Squarespace is no longer listed on the New York Stock Exchange, Permira said.
Squarespace is a design-driven platform helping entrepreneurs build brands and businesses online. The company empowered millions in more than 200 countries and territories with all the tools they need to create an online presence, build an audience, monetise, and scale their business.
The company’s suite of products such as websites, domains, ecommerce, and marketing tools, scheduling tools with Acuity, as well as creating and managing social media presence with Bio Sites and Unfold.
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.
New Chapter for Permira
Casalena said that they were embarking on a new chapter with Permira, one focused on their long-term strategy and commitment to serving entrepreneurs globally. For more than 20 years, Squarespace has 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,” Casalena added.
David Erlong, Partner at Permira, said that they have long admired Squarespace for the deep, enduring relationships it has cultivated with SMBs and entrepreneurs who rely on its platform to build and scale their online presence.
Now more than ever, Squarespace’s ecosystem—interwoven with Gen AI—plays a crucial role in empowering customers globally to bring their innovations to life, he said.
“We look forward to leveraging our decades-long experience and track record backing internet platforms and technologies that enable SMBs, as we support Anthony and his team in growing Squarespace and expanding its product suite through its next chapter of success,” he added.
Squarespace generated $296.8 million in revenue last quarter, up 20% from the same time a year earlier. In May, the company forecasted full-year sales of $1.19 million to $1.2 billion, which represents a 19% growth rate on the high end of the range.
