Squarespace is not yet publicly traded but the company is planning on offering its shares to the public on 19 May 2021. This will be through a direct listing rather than a traditional initial public offering (IPO) process.
In a direct listing, no fresh capital is raised in advance and Squarespace’s share price will be determined by orders coming into the stock exchange. This also eliminates any restrictions from the lockup period in an IPO. Companies often settle for a direct listing if they do not need to raise any more capital, and it can also save on other costs such as banking and marketing fees. Other companies that recently opted for a direct listing include Coinbase, Palantir and Roblox.