Squarespace to Go Private in $6.9B All-Cash Transaction with Permira

Ah, crap….. and this is why we can’t have nice things.

Investor statement.

Hacker News discussion on it.

Private Equity has not completely killed bandcamp yet, so maybe it will be OK. But they are gonna wanna make back that, checks notes, 6 billion? WTF?! From the Hacker News discussions:

“I hear that PE destroys products and culture to make money at all costs, but i don’t get how that can net them back the >$6 billion they paid for a company with <$300 million yearly revenue and negative profit.”