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Squarespace acquires Google Domains for $180 million
On June 30, 2023, Google Domains, the company’s domain registrar, will close. Google has sold the assets of Google Domains to Squarespace, a website building and hosting firm.
Google Domains was introduced in 2015 to allow people to register and manage their domain names. With over 10 million domains registered, the business swiftly rose to the top of the list of domain registrars.
What is a Domain Name?
An internet website is identified by its domain name(web address). It is what users enter to access your website in their web browsers. For instance, Google’s domain name is “google.com.”
Domain names are crucial because they make it simple for visitors to find your website. They also aid in branding and improving the recall of your website.
What is the reason behind Google’s decision?
Google has decided to prioritise its core operations, including search and advertising. Other domain registrars like GoDaddy and Namecheap have posed a growing challenge to the business.
As a result, Google has chosen to give Squarespace the assets of Google Domains. Squarespace’s website construction and hosting business has expanded quickly in recent years. The company serves over 2 million clients and brings in over $1 billion annually.
What does this move mean for Squarespace?
By acquiring Google Domains, Squarespace will be able to broaden its product selection and establish itself as a one-stop shop for domain registrars, hosting companies, and website builders. Until June 30, 2023, Squarespace intends to keep providing its clients with Google Domains. All Google Domains users will then be switched over to Squarespace.
How does this translate for users?
You must take action by June 30, 2023, if your domain name is registered with Google Domains. You have two options for renewing your domain: with Squarespace or with another registrar.
If you decide to move your domain to a different registrar, you must adhere to the directions given by that new registrar.
The Squarespace domain renewal process
According to the terms of the agreement, Squarespace will honour all current Google Domains customers’ renewal prices for at least 12 months after the transaction’s completion and offer extra incentives to persuade them to use Squarespace to create a website and use other Squarespace services. To enable a smooth transfer of domains, Squarespace will also use the Google infrastructure that powers the Google Domains offering during the migration time. Please visit www.squarespace.com for further details.
Squarespace’s founder and CEO, Anthony Casalena, stated in the official news release.
What does this signify for domain registration in the future?
The sale of Google Domains to Squarespace is evidence of the sector for domain registration becoming more and more consolidated. Future mergers and acquisitions will probably increase as more businesses enter the market.
Since this consolidation will result in cheaper costs and more competitive services, customers are expected to gain from it. However, it’s equally critical to be wary of the possibility of a small number of powerful corporations controlling the market.
We hope this blog was both educational and engaging. In case you have any inquiries, do let us know.