Hey everyone! Next Monday is Christmas and the Meta SaaS team will be enjoying some much needed R&R so there will not be a SaaS insider on December 25th, we will resume the following week.
This week, Squarespace announced a $200 million round of funding. The company is healthy; it's profitable and pulled in $300 million in revenue last year. That said, its CEO believes they need to check a few more boxes before they finally hit the public markets. Most notably, they'd like to crack the ecommerce market and compete more with the likes of Big Commerce and Shopify. With its latest round of funding, Squarespace will appease restless early investors looking for a return and use the added time to double down on final to-dos before they IPO. Outside of Squarespace, we'll also cover Oracle's latest cloud revenue reports and reflect on the future of AI and cyber security.