Squarespace (SQSP) stock on NYSE in direct listing, not IPO

Squarespace is designing its debut on the New York Stock Change.

The web site creation firm and e-commerce platform goes public at present with a direct itemizing, buying and selling beneath the ticker image is SQSP.

The NYSE gave its shares a $50 reference value.

Squarespace’s 2020 income was $621 million, 28% greater than 2019’s, in accordance with the Kind S-1 Squarespace filed with the U.S. Securities and Change Fee on April 16. The corporate had 3.66 million subscribers as of December 31, and its 2020 commerce-side income was $143 million, up 78%.

“Along with servicing clients from inception to at-scale, our clients span all kinds of industries and use circumstances, from small companies and unbiased creators, corresponding to eating places, photographers, marriage ceremony planners, artists, musicians and bloggers, to iconic manufacturers,” Squarespace wrote. “We consider we have now a major current and rising market alternative with over 800 million small companies and self-employed ventures globally.”

Squarespace raised $300 million and was valued at $10 billion in March.

The corporate was the discuss of the Tremendous Bowl earlier this yr when its industrial featured a remake of Dolly Parton’s basic track “9 to five.” As a substitute, it was “5 to 9.”

Squarespace was based in 2004 and employed its first worker two years later. The primary institutional funding was from Accel and Index Ventures in 2010; a decade later, it had extra 1,200 workers and greater than $665 million in bookings.