Squarespace

Jump to navigation Jump to search
Squarespace, Inc.
Squarespace Logo.svg
Type of businessPrivate
Type of site
SaaS-based hosting platform
HeadquartersNew York City, New York
Area servedWorldwide
Founder(s)Anthony Casalena
CEOAnthony Casalena
IndustryInternet
ProductsWebsite builder and hosting service
Employees797 (2018)
URLwww.squarespace.com
RegistrationRequired; subscription needed for certain features.
LaunchedJanuary 2004; 16 years ago (2004-01)

Squarespace, Inc. is a private American company, based in New York City. It provides software as a service for website building and hosting, and allows users to use pre-built website templates and drag-and-drop elements to create and modify webpages.

In 2004, Anthony Casalena founded Squarespace as a blog-hosting service while attending the University of Maryland. He was its only employee until 2006, when it reached $1 million in revenue. The company grew from 30 employees in 2010 to 550 by 2015. By 2014, it raised a total of $78.5 million in venture capital; added e-commerce tools, domain name services, and analytics; and replaced its coding backend with drag-and-drop features.

Company history

Current Headquarters of Squarespace in Manhattan

Casalena began developing Squarespace for his personal use while attending the University of Maryland.[2][3] He started sharing it with friends and family members[2] and participated in a "business incubator" program at the university.[3]In January 2004, he launched Squarespace publicly,[3][4] with a fund of $30,000 from his father, a small grant from the university, and 300 beta testers who paid a discounted rate.[3][5][6][7] At that time, Casalena was the company's sole developer and employee, and worked out of his dorm room.[3][6]

By the time Casalena graduated in 2007, Squarespace was making annual revenues of $1 million.[4] He moved to New York City, began hiring, and had 30 employees by 2010.[4][7] That year, Squarespace received $38.5 million in its first round of venture capital funding, enabling it to hire more staff, continue to develop its software,[8] and double its marketing budget.[2] From 2009 to 2012, it grew an average of 266% in yearly revenue.[9] In April 2014, it received another $40 million in funding.[10] By 2015, it had reached $100 million in revenue and 550 employees.[4]

Squarespace purchased Super Bowl advertising spots in 2014,[2] 2015,[11] 2016,[12] 2017[13] and 2018.[14] Its 2017 ad won an Emmy Award for Outstanding Commercial.[13] In 2017, it signed a sponsorship deal with the New York Knicks to add the Squarespace logo to their uniforms.[15]

After the Unite the Right rally in 2017, Squarespace received a petition with 58,000 signatures and removed a group of websites for violating its terms of service against "bigotry or hatred" towards demographic groups.[16][17] In 2017, it raised an additional $200 million in funding, boosting its value to $1.7 billion.[18] This funding was earmarked for reacquiring interests from investors.[18]

In 2018, Squarespace partnered with the Madison Square Garden Company to launch the "Make It Awards", which award $30,000 to entrepreneurs (4 winners, totaling $120,000).[19]

Corporate affairs

Leadership

Squarespace is managed by CEO and Founder Anthony Casalena. Other key executives are:[20]

  • Nicole Anasenes, Chief Financial Officer & Chief Operating Officer
  • Andrew Bartholomew, Senior Vice President, Strategy
  • John Colton, Senior Vice President, Engineering
  • Raphael Fontes, Vice President, Customer Operations
  • Natalie Gibralter, Vice President of Product, Consumer Products
  • Mary Good, Chief People Officer
  • David Lee, Chief Creative Officer
  • Kinjil Mathur, Chief Marketing Officer

Product / business model

As of 2016, Squarespace had hosted more than one million websites.[4] Its users employ pre-built website templates, and a variety of drag and drop widgets to add elements such as text and images.[8] Its developers also create custom templates that are sold to users.[8] On-screen instructions walk users through things like search engine optimization and setting up e-commerce.[4]

Squarespace was initially built for creating and hosting blogs.[5] E-commerce features, such as an integration with Stripe for accepting credit card payments, were added in 2013.[21] In 2014, more commerce features were added; a mobile version of the service was released; a separate facility was added for developers writing custom templates and features;[22] and a logo-creation app was introduced in partnership with icon designer Noun Project.[23]

In 2011, Squarespace was upgraded to version 6, with new templates, a grid-based user interface, and other enhancements.[8] Version 7, which went live in 2014, replaced its coding backend with a drag and drop interface,[24][25] and added integration with Google Apps for Work and Getty Images.[10] In 2016, Squarespace started selling domains, putting it in more direct competition with GoDaddy;[26] and added an analytics dashboard[27] and PayPal integration.[28]

References

  1. ^ "Squarespace.com Site Info". Retrieved October 10, 2016.[better source needed]
  2. ^ a b c d Cole, Samantha (May 21, 2014). "How Squarespace's CEO Pivoted to Scale for Millions". Fast Company. Retrieved January 7, 2018.
  3. ^ a b c d e Lohr, Greg (April 23, 2004). "University of Maryland Student in a Class by Himself". Washington Business Journal.
  4. ^ a b c d e f Clifford, Catherine (April 22, 2016). "How Squarespace Went From a Dorm-Room Project to a $100 Million Web Publishing Platform". Entrepreneur. Retrieved January 7, 2018.
  5. ^ a b "How Squarespace became a multimillion dollar publishing giant". TechRepublic. June 30, 2016. Retrieved January 7, 2018.
  6. ^ a b Caumont, Andrea (September 13, 2004). "Squarespace Lets Users Manage Multi-Page Web Sites". The Washington Post.
  7. ^ a b Evelyn Rusli (July 13, 2010). "Squarespace Raises $38.5 Million From Accel, Index Ventures". TechCrunch. Retrieved January 7, 2018.
  8. ^ a b c d "Squarespace 6: Rebuilt From The Ground Up To Take On WordPress, Tumblr And Everyone Else". TechCrunch. October 21, 2011. Retrieved January 7, 2018.
  9. ^ "Fast 50". Crain’s New York Business. October 7, 2013.
  10. ^ a b Warren, Christina (October 7, 2014). "Squarespace Ramps up its Tools to Compete with Wordpress". Mashable.
  11. ^ Stampler, Laura (January 28, 2015). "This Super Bowl Ad Purposely Wants to Put You to Sleep". Time. Retrieved January 26, 2018.
  12. ^ "Key and Peele turn Squarespace's Super Bowl ad into an event". USA TODAY. January 1, 2016. Retrieved January 26, 2018.
  13. ^ a b "Squarespace's Super Bowl Ad With John Malkovich Wins the Emmy for Best Commercial". AdWeek. Retrieved January 26, 2018.
  14. ^ Poggi., Jeanine (January 31, 2018). "Squarespace's Super Bowl Ad Is Just Keanu Standing on a Motorcycle". AdAge. Retrieved February 13, 2018.
  15. ^ Soshnick, Scott (October 10, 2017). "Knicks Team Up With Squarespace for Patch Sponsorship Deal". Bloomberg.com. Retrieved February 13, 2018.
  16. ^ "Website host Squarespace to remove a 'group of sites' after violence at Charlottesville white nationalist rally". Washington Post. August 17, 2017. Retrieved January 7, 2018.
  17. ^ "Squarespace won't host your racist websites, either". CNET. July 23, 2014. Retrieved January 7, 2018.
  18. ^ a b Vynck, Gerrit De (December 14, 2017). "Squarespace Raises Funding at $1.7 Billion Valuation". Bloomberg.com. Retrieved January 7, 2018.
  19. ^ "The New York Knicks and Squarespace Announce Second Annual "Make It Awards" – The Madison Square Garden Company". www.themadisonsquaregardencompany.com. Retrieved 2019-08-16.
  20. ^ "Our Team". Squarespace. Retrieved 9 January 2020.
  21. ^ Summers, Nick (February 14, 2013). "Squarespace Adds Commerce Tools To Its Website Builder". The Next Web. Retrieved January 7, 2018.
  22. ^ Novet, Jordan (April 16, 2014). "Don't forget about website runner Squarespace. It just raised $40M". VentureBeat. Retrieved January 7, 2018.
  23. ^ Brownlee, John (January 22, 2014). "Squarespace Makes Designing A Logo Dead Simple". Co.Design. Retrieved February 13, 2018.
  24. ^ Nudd, Tim (October 20, 2014). "Squarespace's Radical Update Is Like a Blank Canvas. So Its New Ads Are, Too". Adweek.
  25. ^ Rhodes, Margaret (October 7, 2014). "The New Squarespace is a UX Dream that Eliminates the Backend Entirely". Wired.
  26. ^ Ungerleider, Neal (April 15, 2016). "Now Competing To Be The Master Of Your Domain: Squarespace". Fast Company. Retrieved January 7, 2018.
  27. ^ Ha, Anthony (June 14, 2016). "Squarespace introduces new analytics for its commerce-focused customers". TechCrunch. Retrieved January 7, 2018.
  28. ^ "Squarespace businesses can now accept PayPal". The Next Web. November 1, 2016. Retrieved February 13, 2018.

External links