In a significant move, Google is stepping away from the domain registrar business as it sells its Google Domains assets to popular website builder Squarespace. As part of the deal, over 10 million domains currently managed by Google will be transferred to Squarespace.
According to Matt Madrigal, Google's Vice President and GM of Merchant Shopping, the decision to sell the assets is aimed at refining the company's focus. Google is dedicated to ensuring a seamless transition for customers being transferred to Squarespace, which already has domain management and web-building tools in place.
Google Domains, launched as a beta product in 2014, with a full release in 2022, enabled users to easily purchase various domain extensions for their businesses and personal websites. As part of the agreement between Google and Squarespace, customers will be offered the same renewal prices for the next 12 months. In addition, Squarespace will provide incentives for users to build their websites on its platform.
However, some customers who use Google Domains solely to manage their domains may not find any added value from Squarespace, which integrates its domain purchasing process with its website-building platform. Moreover, customers subscribing to Google’s Workspace enterprise platform will now have their domains registered through Squarespace by default. Those who prefer purchasing domains from other providers can do so and link them to Workspace later.
The deal also makes Squarespace the exclusive domain provider for Workspace customers purchasing domains directly through Google for the next three years. For customers who have subscribed to Workspace and bought domains through Google, Squarespace will handle domain billing and support services.
The acquisition is expected to close in the third quarter of 2023, subject to regulatory approvals and the fulfillment of closing conditions. The actual transfer of domains may not be completed until 2024, demanding no customer actions at present. The deal is reportedly valued at $180 million.
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