[billyhoffman]

It would be interesting to get better SaaS metrics, specifically on customer churn. I can't find that in the linked document. They are growing, but how much of that marketing spend is needed for growth vs just maintaining the customer base?

I don't know what the customer makeup of Squarespace is. It could be that by volume their typical customers are business that fail a lot, or have a high amount of churn (think sole proprietorships, businesses with 1 - 10 employees without in house tech experience, or part-time/side businesses like Etsy or Instagram stores). Depending on the makeup, a significant amount of this marketing could be required just to maintain a constant customer base.

[JumpCrisscross]

> could be that by volume their typical customers are business that fail a lot, or have a high amount of churn...significant amount of this marketing could be required just to maintain a constant customer base

If this is the case, Permira and its lenders are bailing the public out of a shit business on their own dime.