Squarespace annual revenue 2020-2023, by segment

Between 2020 and 2023, the annual revenue of Squarespace increased from 621 million U.S. dollars to over one billion U.S. dollars. Over the considered years, revenue from commerce solutions almost doubled and reached nearly 310 million U.S. dollars in 2023. In September 2023, Squarespace expanded its operations even further by acquiring the domain registrations business from Google.

Squarespace competitors in Europe

In 2022, Squarespace was in the ranking of most used website software among small and medium-sized (SMBs) companies in Western Europe, with a market share of roughly nine percent. In the region, the company entered a populated market where Shopify still outshines other technology providers. Other competitors include Magento and WooCommerce – the commerce tool by WordPress.

What matters in commerce tech

Companies opening stores online expect commerce platforms to protect their business and customer data. A survey carried out in the UK and Scandinavian countries showed this was the most important aspect in choosing an e-commerce platform 1430321 in 2023. Cloud-native solutions are built to ensure security and minimize business risks. About one in four surveyed managers believed cloud-based tools to be a must-have in e-commerce operations.