New York-headquartered web hosting services company, Squarespace Inc is planning an initial public offering in the first half of the next year, according to Bloomberg.
What Happened: Squarespace is already in talks with certain banks for financial advisory and a selection is expected sometime this month, based on inputs from sources, as per Bloomberg.
In its secondary market funding round in December 2017, equity firm General Atlantic invested $200 million. At the time, Squarespace’s valuation was close to $1.7 billion, as per Bloomberg. Whereas Crunchbase, based on research by PrivCo, estimates the post-money valuation to be between $1 billion to $10 billion.
Based on performance trends, the company is expected to value its IPO above the 2017 threshold.
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