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

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Anusuya Lahiri
·1 min read
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  • 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 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).

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