Squarespace, which has a value of $10 billion, sets stage for direct listing in New York. The website building and hosting firm did this by registering 40 million of its shares in a direct listing in New York later this month. The shares will start trading on the New York Stock Exchange (NYSE) on May 19 under the ticker symbol "SQSP." The New York-based firm, which competes with Wix.com Ltd and GoDaddy, had confidentially filed for a stock market listing in January. Also, Squarespace had a value of nearly $10 billion in March when it raised $300 million from investors including Tiger Global, D1 Capital Partners, and Fidelity Management & Research Company.
This is yet another win of those who advocate for the increasingly popular alternative to the initial public offering (IPO). O...
