Squarespace is a popular website building platform.
Launched publicly in 2004, the company hit a milestone of $100 million in bookings in 2015.
Today, Squarespace has 3.79 million subscribers and generates $754.2 million in annualized revenue.
Important Stats about Squarespace
- Squarespace has 3.79 million subscribers.
- Squarespace generated $621.15 million in revenue in 2020.
- Squarespace’s current annual revenue run rate is $754.2 million.
- Squarespace had operating expenses of $482.59 million in 2020.
- Squarespace has 1,261 full-time employees.
Squarespace unique subscriptions
Squarespace counts each unique website built with the platform as a separate subscription. The total subscriber count also encompasses standalone subscriptions to the Scheduling service and to Unfold (a marketing tool).
Taking all this into account, Squarespace has 3.79 million unique subscriptions. The company has added 810 thousand new subscriptions since 2019.
We’ve charted the number of Squarespace subscriptions since 2018:
| Year | Unique subscriptions |
|---|---|
| 2018 | 2.34 million |
| 2019 | 2.98 million |
| 2020 | 3.66 million |
| Q1 2021 | 3.79 million |
Source: Squarespace.
Squarespace ARR
Squarespace’s annualized revenue run rate is $754.2 million. That’s up 37.34% since 2019.
Here’s a table with Squarespace’s annualized revenue run rate since 2018. Annual figures are calculated by multiplying revenue from the final month of the period by 12:
| Year | ARR |
|---|---|
| 2018 | $425.85 million |
| 2019 | $549.16 million |
| 2020 | $709.06 million |
| Q1 2021 | $754.2 million |
Source: Squarespace.
Squarespace annual revenue
Squarespace generated $621.15 million in 2020. That’s an increase of 28.14% over the previous year.
Squarespace’s revenue has grown by 59.33% since 2018.
Here’s a table showing Squarespace’s revenue since 2018:
| Year | Revenue |
|---|---|
| 2018 | $389.86 million |
| 2019 | $484.75 million |
| 2020 | $621.15 million |
| Q1 2021 | $179.65 million |
Source: Squarespace.
Squarespace revenue by region
Squarespace generates 70.71% of its revenue from US customers. As of March 2021, that amounts to $127.04 million for the year.
Squarespace US revenue has shown a 25.38% increase since 2019.
Here’s a table showing Squarespace’s US revenue since 2019:
| Year | US revenue (Share) |
|---|---|
| 2019 | $343.05 million (70.77%) |
| 2020 | $430.12 million (69.24%) |
| Q1 2021 | $127.04 million (70.71%) |
Squarespace revenue from non-US markets reached $191.03 million in 2020, representing 30.76% of the company’s total revenue.
International revenue has grown by 34.81% since 2019, a greater percentage increase than the US market.
Here’s a table with Squarespace’s international revenue since 2019:
| Year | International revenue (Share) |
|---|---|
| 2019 | $141.7 million (29.23%) |
| 2020 | $191.03 million (30.76%) |
| Q1 2021 | $52.6 million (29.29%) |
Source: Squarespace.
Squarespace revenue sources
Squarespace provides a revenue breakdown by product type, which includes “presence” and “commerce.”
Presence revenue refers to core platform subscriptions, domain managed services and other fixed-fee subscriptions.
Commerce revenue mainly consists of subscription plans containing additional commerce and marketing tools. The category also covers costs associated with Squarespace Scheduling, revenue share with partners, and transaction fees from purchases made on Squarespace sites.
Squarespace brought in $477.83 million in presence revenue in 2020, accounting for 76.93% of total revenue.
Squarespace’s presence revenue has increased by 18.23% since 2019.
Nonetheless, the share of presence revenue as a proportion of total revenue has been gradually reducing: presence revenue accounted for 83.37% of all income in 2019.
We’ve charted Squarespace’s “presence” revenue since 2019:
| Year | Presence revenue (Share) |
|---|---|
| 2019 | $404.16 million (83.37%) |
| 2020 | $477.83 million (76.93%) |
| Q1 2021 | $132.87 million (73.96%) |
By comparison, Squarespace generated $143.32 million in commerce revenue in 2020. That’s a 77.84% year-over-year increase.
Commerce revenue now accounts for 26.04% of the company’s total revenue, a 1.56x increase since 2019.
Here’s a table with Squarespace’s “commerce” revenue since 2019:
| Year | Commerce revenue (Share) |
|---|---|
| 2019 | $80.59 million (16.63%) |
| 2020 | $143.32 million (23.07%) |
| Q1 2021 | $46.77 million (26.04%) |
Source: Squarespace.
Squarespace revenue per unique subscription
Each Squarespace subscription generates an average of $190 per year in revenue.
The company’s average revenue per unique subscription has been gradually increasing each year since 2018:
| Year | Average revenue per unique subscription |
|---|---|
| 2018 | $178 |
| 2019 | $181 |
| 2020 | $186 |
| Q1 2021 | $190 |
Source: Squarespace.
Squarespace gross merchandise value
Gross merchandise value (GMV) refers to the total value of orders placed through Squarespace-enabled eCommerce sites.
GMV on the Squarespace platform reached $3.9 billion in 2020. This figure has grown by 91.18% since 2019.
Here’s a table with Squarespace’s gross merchandise value since 2019:
| Year | GMV |
|---|---|
| 2019 | $2.04 billion |
| 2020 | $3.9 billion |
| Q1 2021 | $1.22 billion |
Source: Squarespace.
Squarespace operating expenses
Squarespace’s operating expenses reached $482.59 million in 2020. That’s an increase of 41.31% over the previous year.
Marketing and sales costs account for the majority (53.88%) of Squarespace’s expenses. In 2020, that amounted to $260.04 million.
Here’s a full breakdown of Squarespace’s operating expenses by category in 2020:
| Category | Operating expenses (Share) |
|---|---|
| Marketing and sales | $260.04 million (53.88%) |
| Research and product development | $167.9 million (34.79%) |
| General and administrative | $54.65 million (11.32%) |
Source: Squarespace.
How many people work at Squarespace?
Squarespace has 1,261 full-time employees across 5 office locations (New York City, Portland, Oregon, Los Angeles and Dublin).
The majority of employees (1,124) are based in the United States, while the remaining 137 work in the European Union.
| Region | Employees |
|---|---|
| United States | 1,124 |
| European Union | 137 |
Per Comparably data, the average compensation at Squarespace in the US is $112,378. Employees on a work-based H-1B visa receive a median salary of $142,000.
Conclusion
That’s all for my list of Squarespace stats in 2023.
It’s clear from the numbers included here that Squarespace is growing steadily. The company plans to go public later this year, so it will be interesting to see what the future holds.
Now I’d like your input:
Do you think Squarespace will continue its upward trend of customer acquisition? Or is the market limited?
Or perhaps you just have some questions or comments about the data I’ve included.
I check the comments section regularly, so leave a message below and I’ll be happy to get back to you.
