Investors are rotating back into big tech as a defensive move: Som Seif
Website-hosting service Squarespace Inc. said it submitted a draft filing to go public to the U.S. Securities and Exchange Commission.
Squarespace said in a statement Wednesday, without disclosing details of its plans, that the registration will become effective after the SEC completes its review.
The New York-based company was pursuing an initial public offering in the first half of this year, Bloomberg News reported in December.
Squarespace was valued at US$1.7 billion in December 2017 when General Atlantic inves japan ted US$200 million, adding to a US$40 million stake taken in 2014. Earlier investors included Index Ventures and Accel, which led a US$38.5 million investment in 2010.
Led by founder and Chief Executive Officer Anthony Casalena, Squarespace competes against publicly traded rivals Wix.com Ltd. and GoDaddy Inc., among others.