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Squarespace IPO: Everything you need to know about Squarespace
Joshua Warner May 14, 2021 3:16 PM
Squarespace is set to go public by a direct listing that could cause a volatile start to life as a publicly-traded company. We explain everything you need to know about the listing and the business. Share:
When is the Squarespace IPO?
Squarespace is going public via a direct listing on the New York Stock Exchange on or around Wednesday May 19. It will list under the ticker ‘SQSP’.
A direct listing means only existing shareholders will sell shares and that Squarespace won’t issue any new shares or raise any cash for the business.
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Operator
Good day, and thank you for standing by. Welcome to the Wayfair Q1 2021 Earnings Release and Conference Call. [Operator Instructions] I would now like to hand the call over to our speaker today, Jane Gelfand, Head of Investor Relations, Corporate Development and Capital Markets. Please go ahead.
Jane Gelfand
Head of Investor Relations & Special Projects
Good morning, and thank you for joining us. Today, we will review our first quarter 2021 results. With me are Niraj Shah, Co-Founder, Chief Executive Officer and Co-Chairman; Steve Conine, Co-Founder and Co-Chairman; and Michael Fleisher, Chief Financial Officer. We will all be available for Q&A, following today s prepared remarks.
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Dive Brief:
Pandemic-fueled categorical demand continued to propel Wayfair into the first quarter of 2021. The online home retailer on Thursday reported net revenues grew 49.2% from last year to reach $3.5 billion.
Wayfair added 2 million customers from the fourth quarter, reaching a total of 33.2 million a 57% increase from last year, according to a company press release. But its existing customers helped fuel sales growth in Q1: Repeat customers placed 74.5% of total orders, or 10.9 million orders.
The retailer reported net income grew 106.4% to $18.2 million from a loss of $285.9 million in the year-ago period.
Dive Insight:
For much of the past year, consumers lives have revolved around the home. Many employees and students shifted to remote work and virtual learning. Instead of dining out at restaurants, many cooked meals at home. Most recreational activities were also limited to people s personal spaces.
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