NEW
YORK, June 21, 2024 /PRNewswire/ -- Squarespace
(NYSE: SQSP), the design-driven platform helping entrepreneurs
build brands and businesses online, today announced an agreement to
sell Tock, the reservation, table, and event management technology
provider, to American Express (NYSE: AXP) for $400 million.
"American Express has demonstrated its commitment to the
hospitality industry, and we believe that as part of American
Express, Tock will deliver enhanced value to our customers through
access to a broad network of diners," said Matthew Tucker, Head of Tock. "We appreciate
American Express' recognition of Tock's exceptional products,
experienced team, and our first-rate customer base. We look forward
to working together to broaden American Express' world class dining
program and are excited by the tremendous opportunity to
continue to innovate on behalf of our customers as part of American
Express. We are also deeply appreciative of Squarespace's support
of Tock's vision and its commitment to the business over the past
three years."
"Since adding Tock as a Squarespace company in 2021, we have
been honored to partner together to serve the hospitality
industry," said Anthony Casalena,
Founder and CEO of Squarespace. "We are thankful for Matt's
leadership and the team's emphasis on innovative products and
world class customer care. Our shared commitment to help small
businesses grow has been core to our partnership and we believe the
Tock business will continue to thrive in its exciting next chapter
with American Express."
As part of the deal, Squarespace and American Express will also
partner to deliver additional value for small businesses that use
American Express Cards through the Amex Offers program (digital
card-linked offers) and Card Member benefits.
The transaction is subject to customary closing conditions,
including regulatory approval.
ABOUT SQUARESPACE
Squarespace (NYSE: SQSP) is a design-driven platform helping
entrepreneurs build brands and businesses online. We empower
millions in more than 200 countries and territories with all the
tools they need to create an online presence, build an audience,
monetize, and scale their business. Our suite of products range
from websites, domains, ecommerce, and marketing tools, as well as
tools for scheduling with Acuity, creating and managing social
media presence with Bio Sites and
Unfold, and hospitality business management via Tock. For more
information, visit www.squarespace.com.
ABOUT TOCK
Tock offers an all-in-one solution that enables hospitality
businesses to adapt and thrive in an ever-changing landscape. With
robust reservation, waitlist, and table management capabilities,
Tock's platform offers hospitality businesses everything they need
to drive revenue, increase covers, and keep guests coming back.
Tock services over 7,000 customers today. To learn more, visit
exploretock.com/join.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company,
providing customers with access to products, insights and
experiences that enrich lives and build business success. Learn
more at americanexpress.com and connect with us
on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, X.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate sustainability
information: personal cards, business cards and
services, travel services, gift cards, prepaid
cards, merchant services, Business
Blueprint, Resy, corporate card, business
travel, diversity and inclusion, corporate sustainability
and Environmental, Social, and Governance reports.
Contacts:
Liz DiTrapano, ICR
Tock@icrinc.com
Media
press@squarespace.com
Investors
investors@squarespace.com
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SOURCE Squarespace, Inc.