Squarespace, last valued at $10 billion, sets stage for direct listing in New York

Squarespace has registered roughly 40 million shares for its direct listing in New York later this month, marking another win for advocates of the increasingly popular alternative to the initial public offering (IPO).

Founded in 2003 by Chief Executive Anthony Casalena in his dorm room at the University of Maryland, the website building and hosting firm was valued at nearly $10 billion in March when it raised $300 million from investors including Tiger Global, D1 Capital Partners, and Fidelity Management & Research Company.