Squarespace talks to banks about plans for 2021 IPO
Add BT as a preferred source[SAN FRANCISCO] Website-hosting service Squarespace is pursuing an initial public offering (IPO) in the first half of 2021, according to people familiar with the matter.
The company has been discussing its IPO plans with potential advisers and might select banks this month for the listing, said the people, who asked not to be idenitified because the information was private.
Squarespace's plans, including the timing of a listing, could change, the people said.
A representative for the New York-based company declined to comment.
Squarespace was valued at US$1.7 billion in December 2017 when General Atlantic invested US$200 million, adding to a US$40 million stake taken in 2014. The company would seek to exceed that valuation in an IPO, one of the people said.
Earlier investors included Index Ventures and Accel, which led a US$38.5 million investment in 2010.
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Led by founder and chief executive officer Anthony Casalena, Squarespace competes against publicly traded rivals Wix.com and GoDaddy, among others.
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