How Squarespace Built a Great Startup

 

Squarespace is the New York City-based startup that allows clients to easily build their own beautiful websites. Founded in 2003, Squarespace has now grown into one of the hottest startups in NYC.

Squarespace Started in a College Dorm Room

Squarespace was founded by Anthony Casalena in his dorm room at the University of Maryland. The original tool was a way to allow Anthony to easily build his own website. After sharing the tool with his friends and family, Anthony was soon able to raise $30,000 to start the company. For the next four years, Casalena was the only employee at the company. By 2007, the company was generating $1 million in annual revenue. 

From Small Beginnings to a $1.7 Billion Valuation

By 2010, Squarespace had raised $38.5 million in Series A funding and had grown to 30 employees. Four years later, the company closed a second round of Series B funding worth another $40 million. The following year in 2015, the company had reached $100 million in annual revenue and had grown to over 550 employees. Then last year in 2017, Squarespace secured an additional $200 million in secondary market funding in a round that saw the company valued at $1.7 billion.

Simplicity is Key

By simply dragging-and-dropping content into pre-arranged templates, Squarespace allows users to easily make their own beautifully designed websites. For more ambitious users, Squarespeace also allows them to create templates which can then be sold to other users who want to purchase the design. Templates come with tutorials on how to optimize for SEO and even include how-to setup guides for e-commerce. As of 2016, the company was hosting more than 1 million pages.

Expanding and Earning Kudos

Since its founding, Squarespace has grown to over 830 employees. The company has also grown from its NYC-based roots to also having offices in Portland, Oregon and Dublin, Ireland as well. As a vote of confidence, Squarespace also hosts its own website on the platform. Since 2012, the company has been voted one of Crain’s Best Places to Work in NYC and last year was named one of Fortune’s 50 Best Workplaces for Parents.

Furthering the Market Share

As of 2016, the company has also started selling domain names. This put the company on an even more head-on trajectory with rivals like GoDaddy. But Squarespace has fared well. Since then, the company has managed to embrace the e-commerce trend and has also found ways to fully integrate both PayPal and Stripe in order to make online transactions across the platform more seamless.

Today, more-and-more Squarespace is making its presence in the web-hosting industry felt. Few would have guessed the company would ever come so far after starting in that university dorm room all those years ago.

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