Owing to the fact that Squarespace raked in a 50 percent increase in revenue last year to about $300 million, this certainly affirms it to be not just a self sustaining company, but a Money-spinning one at that. Wix, a public company, being a formidable Squarespace competitor is anticipated to generate about $424 million in revenue this year.
Prior to it’s public offering, Squarespace wants to improve its capabilities in serving customers an improved experience in marketing products through their Websites.
A solid statement by Squarespace CEO Anthony Casalena “It’s the most requested feature on the platform right now, A lot of people are there building a brand. They want to sell something.”, attests to the fact that there is ample room for growth in the industry.
Meanwhile, $78.5 million was earlier raised by Squarespace from General Atlantic, Index Ventures, Accel and others. Squarespace however, opted not to bring to light events of the deal.