Skip to main content

Market Overview

Godaddy Peer Squarespace Targets Direct Listing, Shunning Conventional IPO Route: Bloomberg

Share:
Godaddy Peer Squarespace Targets Direct Listing, Shunning Conventional IPO Route: Bloomberg
  • General Atlantic, Index Ventures, and Accel-backed website-hosting service Squarespace Inc are eyeing a direct 2021 listing instead of a traditional initial public offering (IPO), Bloomberg reports.
  • Squarespace would join the likes of Roblox Corp (NYSE: RBLX), Palantir Technologies Inc (NYSE: PLTR), Slack Technologies Inc (NYSE: WORK), Spotify Technology SA (NYSE: SPOT), and Asana Inc (NYSE: ASAN)which took the direct listing route. Cryptocurrency exchange Coinbase Global (NASDAQ: COIN) is also set for a direct listing on Wednesday.
  • Existing investors can begin selling their shares on the first day of trading under a direct listing without the IPO hassles of new capital raise or lock-up period restrictions.
  • Squarespace was valued at $10 billion last month based on a funding round. The company disclosed its confidential filing for a public listing in Jan.
  • Squarespace’s publicly traded peers included Wix.Com Ltd (NASDAQ: WIX) and GoDaddy Inc (NYSE: GDDY).
 

Related Articles (WIX + GDDY)

View Comments and Join the Discussion!

Posted-In: Bloomberg BriefsNews IPOs Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com