Deals
Squarespace Considers $400 Million Pre-IPO Credit Facility
- New York-based startup could go public in 2021 or later
- Company has raised capital from General Atlantic, Accel, Index
Anthony Casalena
Source: Squarespace
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Do-it-yourself website service Squarespace Inc. is in discussions with banks to borrow as much as $400 million in a credit facility that would help set the stage for an initial public offering, according to people with knowledge of the matter.
The company is seeking to put the facility in place ahead of a listing that could occur in 2021 or later, said the people, who asked not to be identified because the talks are private. Unlike some other high-profile unicorns -- startups valued at $1 billion or more -- Squarespace is cash-flow positive, the people said.