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Squarespace Goes Private: A $6.9 Billion Deal with Permira



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Squarespace, once seen as a promising player in the stock market, has chosen a different path, deciding to become a private company in a $6.9 billion agreement with Permira, a private equity firm. This move comes after several ups and downs for Squarespace since it went public almost three years ago. In a CNBC article titled “Squarespace to go private in $7 billion private-equity deal,” CEO Anthony Casalena is quoted as saying, “We are excited to be teaming up with Permira for this next part of our journey.” Anthony expressed his excitement about working with Permira, marking a new phase in the company's growth. With Casalena and current investors Accel and General Atlantic holding most of the voting shares, the deal has received approval from important stakeholders.


Competing with big names like Wix and Shopify in the website-building and e-commerce industry, Squarespace saw its share price rise significantly after the announcement. This suggests that investors are optimistic about the potential of the deal. Permira, supported by Ares Capital, Blackstone, and Blue Owl, aims to help Squarespace reach its full potential, according to David Erlong, a partner at Permira. Squarespace's decision to go private reflects a larger trend among tech companies, either because they're disappointed with public markets or because they believe they can achieve more value in private equity.


Squarespace moving to private ownership is part of a series of important deals in the tech world. This includes Qualtrics going back to private ownership in 2023 and Toshiba becoming private after years of speculation and investor pressure. Investors are keeping a close eye on mergers and acquisitions, as the increase in dealmaking shows a shift away from the slowdown seen in recent IPOs. With advice from top firms like Centerview, J.P. Morgan, and Goldman Sachs, Squarespace's move to private ownership is a strategic change in response to the ever-changing tech market.

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