Money & Markets Week Ahead for May 16, 2021: Squarespace is launching its initial public offering this week. And it’s bringing something unique to the IPO table.
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Squarespace IPO: What to Expect
There are a few initial public offerings on the calendar this week.
One big one is for Squarespace Inc. It will price its IPO on Thursday.
The company plans to list on the New York Stock Exchange under the ticker SQSP.
What it is: Squarespace provides a platform where individuals and businesses can create websites.
The company provides users with websites, domains, e-commerce, social media and other marketing tools.
It competes with providers like WordPress and GoDaddy.
In its S-1 filing with the Securities and Exchange Commission, Squarespace said it has approximately 3.7 million subscribers to its platform.
Squarespace has driven its top-line revenue higher in each of the last three years.
In 2018, the company reported $389.9 million in total revenue. That figure jumped to $621.1 million in 2020.
However, that growth has come at a cost.
Operating expenses have gone from $75 million in 2018 to $167 million in 2020. That has driven its net income from $43.1 million in 2018 to $30.5 million in 2020.
The offering: This is a direct listing, so the company…