Squarespace Subscriber and Revenue Statistics
Written by Backlinko Team
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 4.91 million unique subscriptions and generates $1.12 billion in annual revenue run rate.
Here’s an overview of the stats on this page:
- Important Stats about Squarespace
- Squarespace Unique Subscriptions
- Squarespace ARRR
- Squarespace Annual Revenue
- Squarespace Revenue by Region
- Squarespace Revenue Sources
- Squarespace Revenue per Unique Subscription
- Squarespace Gross Merchandise Value
- Squarespace Operating Expenses
- How Many People Work at Squarespace?
Important Stats about Squarespace
- Squarespace has 4.91 million unique subscriptions.
- Squarespace generated $1.01 billion in revenue in 2023.
- Squarespace’s current annual revenue run rate is $1.12 billion.
- Squarespace operating expenses reached $721.09 million in 2023.
- Squarespace has 1,749 full and part-time employees worldwide.
Squarespace Unique Subscriptions
Squarespace counts each unique website built with the platform as a separate subscription. The total subscriber count also encompasses standalone scheduling subscriptions, Unfold (app for creating social content) and hospitality subscriptions.
Taking all this into account, Squarespace has 4.91 million unique subscriptions. The company has added 708 thousand new subscriptions since December 2022.
We’ve charted the number of Squarespace subscriptions since 2018:
| Year | Squarespace Unique Subscriptions |
|---|---|
| 2018 | 2.34 million |
| 2019 | 2.98 million |
| 2020 | 3.66 million |
| 2021 | 4.09 million |
| 2022 | 4.2 million |
| 2023 | 4.63 million |
| Q1 2024 | 4.91 million |
Source: Squarespace
Squarespace ARRR
Squarespace’s annual revenue run rate is $1.12 billion as of March 2024. That’s up from $941.86 million in March 2023.
Here’s a table with Squarepace’s annual revenue run rate since 2018. Yearly figures are calculated by multiplying quarterly subscription revenue by 4.
| Year | Squarespace ARRR |
|---|---|
| 2018 | $425.85 million |
| 2019 | $549.16 million |
| 2020 | $709.06 million |
| 2021 | $835.19 million |
| 2022 | $931.71 million |
| 2023 | $1.11 billion |
| Q1 2024 | $1.12 billion |
Source: Squarespace
Squarespace Annual Revenue
Squarespace generated $1.01 billion in 2023, showing a 16.77% year-over-year growth.
Squarespace’s revenue has grown by 29.12% since 2021.
Here’s a table showing Squarespace’s revenue since 2018:
| Year | Squarespace Revenue |
|---|---|
| 2018 | $389.86 million |
| 2019 | $484.75 million |
| 2020 | $621.15 million |
| 2021 | $784.04 million |
| 2022 | $866.97 million |
| 2023 | $1.01 billion |
| Q1 2024 | $281.15 million |
Source: Squarespace
Squarespace Revenue by Region
Squarespace generates 71.51% of its revenue from US customers. As of Q1 2024, that amounts to a quarterly revenue of $201.04 million.
Here’s a table showing Squarespace’s US revenue since 2019:
| Year | Squarespace US Revenue (Share of Total Revenue) |
|---|---|
| 2019 | $343.05 million (70.77%) |
| 2020 | $430.12 million (69.24%) |
| 2021 | $544.5 million (69.45%) |
| 2022 | $622.8 million (71.84%) |
| 2023 | $726.03 million (71.72%) |
| Q1 2024 | $201.04 million (71.51%) |
Squarespace revenue from non-US markets reached $80.11 million in Q1 2024, representing 28.49% of the company’s total revenue.
Here’s a table with Squarespace’s international revenue since 2019:
| Year | Squarespace International Revenue (Share of Total Revenue) |
|---|---|
| 2019 | $141.7 million (29.23%) |
| 2020 | $191.03 million (30.76%) |
| 2021 | $239.54 million (30.55%) |
| 2022 | $244.18 million (28.16%) |
| 2023 | $286.31 million (28.28%) |
| Q1 2024 | $80.11 million (28.49%) |
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 fees related to third-party solutions.
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 $200.88 million in presence revenue in Q1 2024, accounting for 71.45% of total revenue.
Squarespace’s presence revenue has increased by 18.43% since Q1 2023.
We’ve charted Squarespace’s “presence” revenue since 2019:
| Year | Squarespace Presence Revenue (Share of Total Revenue) |
|---|---|
| 2019 | $404.16 million (83.37%) |
| 2020 | $477.83 million (76.93%) |
| 2021 | $554.52 million (70.73%) |
| 2022 | $597.3 million (68.89%) |
| 2023 | $704.35 million (69.58%) |
| Q1 2024 | $200.88 million (71.45%) |
By comparison, Squarespace generated $80.26 million in commerce revenue in Q1 2024. That’s a 10.5% year-over-year increase.
Commerce revenue now accounts for 28.55% of the company’s total revenue.
Here’s a table with Squarespace’s “commerce” revenue since 2019:
| Year | Squarespace Commerce Revenue (Share of Total Revenue) |
|---|---|
| 2019 | $80.59 million (16.63%) |
| 2020 | $143.32 million (23.07%) |
| 2021 | $229.52 million (29.27%) |
| 2022 | $269.67 million (31.11%) |
| 2023 | $307.99 million (30.42%) |
| Q1 2024 | $80.26 million (28.55%) |
Source: Squarespace
Squarespace Revenue per Unique Subscription
Each Squarespace subscription generates an average of $226.63 per year in revenue.
The company’s average revenue per unique subscription has been gradually increasing each year since 2018:
| Year | Squarespace Average Revenue per Unique Subscription |
|---|---|
| 2018 | $178 |
| 2019 | $181 |
| 2020 | $186 |
| 2021 | $202.54 |
| 2022 | $209.16 |
| 2023 | $228.02 |
| Q1 2024 | $226.63 |
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 $6.21 billion in 2023.
Here’s a table with Squarespace’s gross merchandise value since 2019:
| Year | Squarespace GMV |
|---|---|
| 2019 | $2.04 billion |
| 2020 | $3.9 billion |
| 2021 | $5.78 billion |
| 2022 | $6.06 billion |
| 2023 | $6.21 billion |
| Q1 2024 | $1.65 billion |
Source: Squarespace
Squarespace Operating Expenses
Squarespace’s operating expenses reached $721.09 million in 2023.
Marketing and sales costs account for the majority (48.48%) of Squarespace’s expenses. In 2023, that amounted to $349.57 million.
Here’s a full breakdown of Squarespace’s operating expenses by category in 2023:
| Category | Squarespace Operating Expenses (Share) |
|---|---|
| Marketing and sales | $349.57 million (48.48%) |
| Research and product development | $242.19 million (33.59%) |
| General and administrative | $129.33 million (17.93%) |
Source: Squarespace
How Many People Work at Squarespace?
Squarespace has 1,749 full and part-time employees worldwide.
The majority of employees (1,530) are based in the United States, while the remaining 219 are based in the European Union, Australia, United Kingdom.
| Region | Squarespace Employees |
|---|---|
| United States | 1,530 |
| European Union | 185 |
| Australia | 30 |
| United Kingdom | 4 |
Employees on a work-based H-1B visa receive a median salary of $183,000.
Sources: Squarespace, H1B Salary Database
Conclusion
That’s all for my list of Squarespace stats in 2024.
It’s clear from the numbers included here that Squarespace is growing steadily.
Squarespace plans to go private in a $6.9 billion cash transaction with a private equity firm.