PERMIRA COMPLETES SQUARESPACE ACQUISITION FOR $7.2B

Summary from the TLDR Founders newsletter

Squarespace transitioned from a publicly traded company to private ownership after Permira, a private equity firm, acquired all remaining shares. Initially offering $44 per share, Permira increased its bid to $46.50 per share, valuing the company at approximately $7.2 billion, following recommendations that the initial offer did not maximize shareholder value. Despite this acquisition, Squarespace's founder Anthony Casalena retains a significant stake and continues as CEO. The company also recently completed the sale of its restaurant reservation service, Tock, to American Express for $400 million.