Stockholders will receive $44.00 per share in cash, which represents a premium of 29% over the 90-day volume weighted average trading price of $34.09 Squarespace, Inc. (NYSE: SQSP ), the design-driven platform helping entrepreneurs build brands and businesses online, today announced that it has entered into a definitive agreement to go private by Permira, the global private equity firm, in an all-cash transaction valued at approximately $6.9 billion. Under the terms of the agreement, Squarespace stockholders will receive $44.00 per share in cash representing a transaction valued at over $6.6 billion on an equity value basis and approximately $6.9 billion on an enterprise value basis. The purchase price represents a premium of approximately 29% over Squarespace’s 90-day volume weighted average trading price, and a premium of 15% over Squarespace’s closing share price of $38.19 on the NYSE on May 10, 2024. Upon completion of the transaction, Squarespace will become a privately held
What’s the benefit of going private for a company that’s owned by private equity? Like from a regular standpoint, not being subjected to the constant growth demands of shareholders is good, but I wouldn’t think private equity cares about that as long as they’re making money
Bahnd@lemmy.world 6 months ago
I dont know how to feel about this…
My domain got transfered to them from Google domains shutting down and now its being brought under a private equity umbrella… Something fucky.
flumph@programming.dev 6 months ago
I switched all my domains to Porkbun. No way I’m hanging out in Squarespace land.
brbposting@sh.itjust.works 6 months ago
I like their “I don’t like your name“ page
atocci@kbin.social 6 months ago
I switched to Cloudflare. Squarespace wasn't going to work for me.
foggy@lemmy.world 6 months ago
Yeah the 1 2 punch reeks of sketchy business.
aniki@lemm.ee 6 months ago
I’d transfer if I were you. Pro-tip, never use the same company for hosting AND DNS. It gives one company way to much power.
Bahnd@lemmy.world 6 months ago
Not worried about that, I self-host everything, its that Google domains were cheap, quiet, and handled the routing I needed, now… I dont know what to expect.
sugar_in_your_tea@sh.itjust.works 6 months ago
I’m with namecheap. Good enough for me.