A former unicorn company making a name for itself by stockpiling Bitcoin has acquired Bristol-based Squarebird Agency.
Founded in 2009 and based in Guildford, The Smarter Web Company PLC offers website design and development alongside marketing services for “affordable” prices.
It hit the headlines after floating on Aquis in April 2025 with a valuation of £3.7m before quickly becoming the highest-valued stock on that exchange by some distance – and even broke a £1bn market cap at one point, briefly giving it unicorn status.
However its market cap has dropped dramatically since that moment and currently stands at £147m, with a share price of around 32 pence.
Since 2023 the company has adopted a policy of accepting payment in Bitcoin as it “believes that Bitcoin forms a core part of the future of the global financial system”.
More pertinently, it is also “exploring opportunities through organic growth and corporate acquisitions is pioneering the adoption of a Bitcoin Treasury Policy into its strategy”.
Now it has moved to acquire Squarebird, a web design and digital marketing agency, for £1.7 million as part of ‘10-year plan’.
It said consideration for the deal will be satisfied through a combination of newly issued equity and cash, comprising £675,000 to be paid through the issue of new ordinary shares in The Smarter Web Company at an issue price of 40.13p; £270,000 in cash funded from the company’s existing cash reserves; and £340,000 to be funded from Squarebird’s existing cash reserves.
The balancing cash consideration of £405,000 will be paid over in three equal instalments on the first, second, and third anniversaries from the date of completion.
“Squarebird was selected following a targeted review of potential acquisition candidates, based on its consistent profitability, experienced management team and strong client relationships,” it said in a statement.
Founded in 2015, Squarebird has over 20 full-time staff and in its last financial year to 30th April 2025 recorded a turnover of approximately £1.4m, generating a gross profit of approximately £1.28m.
It has a strong client base, with approximately 40% of revenue recurring over the last five years.
Andrew Webley (pictured), CEO of The Smarter Web Company, commented: “2025 marked a transformational year for The Smarter Web Company as we became a public company.
“Our focus in 2026 is to build on this foundation, and I am delighted to announce the acquisition of Squarebird, a profitable and well-established digital agency with a strong reputation and proven delivery capability.
“This selective acquisition strengthens our core business, improves recurring revenue and cash flow, and enhances our overall financial position. In turn, it increases our resilience across market cycles, supporting disciplined execution of our Bitcoin treasury strategy and represents an important milestone in executing our 10 Year Plan.”