Squarespace Enteres Definitive Agreement to Acquire Google Domains Assets
I am thrilled to share some exciting news with you!
Squarespace has recently entered into a definitive asset purchase agreement with none other than Google! In this agreement, Squarespace will acquire the assets associated with the Google Domains business, which will gradually wind down following a transition period. This means that Squarespace will soon be welcoming approximately 10 million domains hosted on Google Domains, owned by millions of customers just like you.
Anthony Casalena, the Founder & CEO of Squarespace, couldn't be prouder of this opportunity. He expressed his enthusiasm by saying, "We are exceptionally proud to be chosen to serve the customers of the Google Domains business. Domains are a critical part of web infrastructure and an essential piece of every business's online presence. We look forward to serving these new customers as we have served millions using our domain products and are committed to ensuring a seamless transition."
Google, in line with their ongoing efforts to refine their focus, has made the decision to enter into this agreement with Squarespace. Matt Madrigal, the Vice President and General Manager of Merchant Shopping at Google, emphasised their dedication to supporting a smooth transition for customers during the coming months. He stated, "Squarespace can provide an integrated experience of purchasing and managing domains along with offering other tools that these customers may need to build their online presence."
Rest assured, Squarespace will honor all existing Google Domains customers' renewal prices for at least 12 months following the completion of the transaction. In addition, Squarespace will provide extra incentives to encourage Google Domains customers to not only transfer their domains but also build their websites on Squarespace and explore other Squarespace offerings. This is the most exciting part for me as a website designer who exclusively works on Squarespace.
The transfer of domains will, of course, be made seamless as Squarespace will leverage Google's infrastructure that powers the Google Domains product during the migration period.
Once the deal is finalised, Squarespace will become the exclusive domains provider for customers purchasing a domain along with their Workspace subscription directly from Google for a minimum of three years. Furthermore, Squarespace will take care of billing and support services for Google Workspace customers who signed up for the service through Google Domains. You'll still have the flexibility to make changes to your domains account whenever you need to.
The transaction is expected to close in the third quarter of 2023, pending certain regulatory approvals and customary closing conditions. While the full benefits of this collaboration will primarily be realized in 2024 and beyond, Squarespace firmly believes that this deal will have a significant positive impact on its business, both in terms of revenue and free cash flow, in the long run.
As a Squarespace Expert Designer, I couldn't be more excited about this development. It reinforces the dedication of Squarespace to provide exceptional services and support to businesses and customers worldwide.