Squarespace is reducing its global workforce by approximately 19 percent, which impacts around 300 employees. The company stated that this restructuring is intended to simplify operations and sharpen priorities for future growth.
The web hosting company, founded in 2004, went public in 2021 with a valuation of 10 billion USD. In 2024, Squarespace transitioned back to private ownership through a 7 billion USD private equity deal.
The industry is currently shifting due to generative AI tools that allow users to create websites through simple prompts. While competitors like Wix have acquired AI-focused firms and startups like Lovable have raised significant capital, Squarespace has yet to release its own AI-native platform, Forma, which is currently in the waitlist stage.
