Square (company)

Square (company)

A technology company that has developed solutions for making and receiving payments. It was founded in 2009 and is located in San Francisco, California.

Square is a San Francisco-based company that builds digital tools to aid entrepreneurs, business owners, and general society with sending or receiving payments using technology. The company has payment, hardware, and software systems that it has developed.

Product

The company sells hardware, such as a point of sale (POS) system. It has analytics and sales reporting capabilities as well as the tracking of sales and inventory. Clients can use the POS to process their customers' payments that are made with credit or debit cards. The POS includes the Square register, customer display, a power adapter cable, and more. There is also a Square Terminal system that can also take payments and print receipts. Clients can buy smaller hardware that connects directly to their own smartphone or tablet and reads credit or debit cards. These devices are known as the "Magstripe" and "Contactless and Chip".

Square also has a mobile app called "Cash App", which can be used to instantly send or receive money. To use any of the company's solutions or services, clients must pay the fee according to the company's website.

Square online store

Square offers an online platform for creating e-commerce websites capable of selling products and services, order fulfilment, shipping, and accepting online payments. E-commerce websites made on the Square online store are charged 2.9% + 30c per transaction on the website. Each site is free to make and is not subject to monthly fees. Websites built through the Square online store do not require any coding experience. Websites can be customized by integrating Square with other online e-commerce applications through prebuilt Square integrations. Square also offers developers an API for accepting online payments on sites they have built themselves.

Partners working with Square to integrate their services with the Square e-commerce platform include: Wix, WooCommerce, Intuit QuickBooks Online, GoDaddy, Acuity Scheduling, Mailchimp, Ecwid, Setmore Appointments, JotForm, Cuboh, PepperHQ, Push Operations, simPRO, Rezdy, Panierdachat, Deliverect, PandaDoc, and Domo.

Funding
Series A

On November 1, 2009 Square announced raising $10 million in series A funding from Khosla Ventures (lead investor), SV Angel, Xavier Niel, Shawn Fanning, Robin Chan, Marissa Mayer, Kevin Rose, Joshua Schachter, Jim Pitkow, and Grag Yaitanes, and other investors. At the time of announcing their series A funding round Square had a pre-money valuation of $30 million before publicly launching their services.

Series B

On January 10, 2011 Square announced raising $27.5 million in series B funding from Sequoia Capital (lead investor), Visa, Khosla Ventures. At the time of raising their series B funding round Square had a pre-money valuation of $212.5 million. The company plans on using their series B funding to hire more employees, and to expand its sales and marketing efforts.

Series C

On June 28, 2011 Square announced raising $100 million in series C funding from Kleiner Perkins (lead investor) and Tiger Global Management. At the time of raising their series C funding round Square had a pre-money evaluation of $900 million, and a post-money valuation above $1 billion.

Series C II

On December 9, 2011 Square announced raising an additional $3 million in series C funding from Virgin Group and GGV Capital. Richard Branson made the following statement regarding his decision to invest in Square through his company Virgin Group:

[I] took interest in Square’s rapid growth and novel technology, in particular its free hardware that allows anyone to accept credit card payments anywhere, anytime.
Series D

On September 17, 2012 Square announced raising $200 million in series D funding from VMware, Tuesday Capital, Starbucks, Rizvi Traverse Management, and Citi Ventures. At the time of raising their series D funding round Square had a valuation of $3.25 billion.

Debt financing

On April 7, 2014 Square announced raising $100 million in debt financing from Silicon Valley Bank, Morgan Stanley, JP Morgan Chase, Goldman Sachs, and Barclays Investment Bank.

Series E

On October 3, 2014 Square announced raising $150 million in series E funding from GIC (lead investor), Sozo Ventures, Sapphire Ventures, Omega Venture Partners, JP Morgan, Goldman Sachs, GGV Capital, and Access Technology Ventures. At the time of raising their series E funding Square had a valuation of $6 billion.

Venture round

On June 5, 2015 Square raised a venture capital round worth and undisclosed amount of money form Lightbank.

Timeline

May 7, 2019
Square acquires Eloquent Labs.
September 3, 2012
Series D

Square closed their series D with $200m in financing.

August 1, 2012
Starbucks invests in Square

Starbucks invests $25 million in Square and makes Square its exclusive processor of debit and credit card payments.

May 23, 2011
Square Wallet and Square Register

Square announces the release of two new apps, Square Card Case (later rebranded as Square Wallet and Square Register.

November 1, 2010
Square launches to public

After ten months of a private pilot limited to just 50,000 users, Square launches to the public.

December 1, 2009
Squareup.com

Square launches their website and their device, Square Reader. It is Apple and Android compatible.

November 1, 2009
Series A closed

Squared raises $10M. Lead investors include Kholsa Ventures.

February 1, 2009
Square is founded

Square is founded by Jack Dorsey.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Square Series A round
10,000,000
November 1, 2009
7 Results
Results per page:
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People

Name
Role
LinkedIn

Abhay Kumar

Employee

Ali Tchitchy

Employee

Amrita Ahuja

CFO

Amy Shindler

Employee

Anneliese Niebauer

Employee

Ashley Ryan

Employee

Courtney DuBois

Employee

David W. Kralik

Employee

Ella Giacchetti

Employee

Erin Wilson

Employee

J. Bryan Scott

Employee

Jack Dorsey

Founder and CEO

Jennifer Lai

Employee

Jim Mckelvey

Founder

Joel Ponce

Employee

Jude Komuves

Employee

Justin

Employee

Kaylie Hodge

Employee

Keith Rabois

Employee

Mana Aynechi

Employee

Margaret Tseng

Employee

Matt Haehl

Employee

Matt Helbig

Employee

Matthew Meadows

Employee

Melissa Tsang

Employee

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Further reading

Title
Author
Link
Type
Date

Square Is Getting a Lot of Love From Analysts

Danny Vena

Web

September 4, 2019

Square is Yahoo Finance's 2018 Company of the Year

Daniel Roberts

Web

December 18, 2018

Documentaries, videos and podcasts

Title
Date
Link

How Square Works

March 2, 2017

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Avery Hartmans
January 14, 2021
Business Insider
Dorsey said that the decentralized nature of bitcoin inspired him to fund an effort to create "an open decentralized standard" for social media.
January 12, 2021
WebWire
The first-ever, all-digital CES® 2021, owned and produced by the Consumer Technology Association (CTA)®, opened its full digital experience to audiences around the world. Following a day of exclusive, media-only press conferences and a keynote from Verizon Chairman and CEO Hans Vestberg, this transformational event provides audiences with a front row seat to the innovation and technologies that will move the world forward. CES 2021 will feature more than 1900 exhibitors representing the...
Meredith Mazzilli
January 9, 2021
Business Insider
Goldman names new TMT co-heads, PayPal wants 1 billion daily active accounts, Trumid makes a big hire, and Affirm makes a renewed push on IPO.
Matthew Fox
January 7, 2021
Business Insider
Bitcoin traded above $39,000 for the first time ever on Thursday, and the crypto market as a whole is now worth more than $1 trillion.
Shannen Balogh
January 7, 2021
Business Insider
Ashley Grech, global head of sales at Square, explained how the payments giant is pitching merchants as buying shifts online or to hybrid models.
Shannen Balogh and Alex Nicoll
January 6, 2021
Business Insider
Most engineering roles at Amex, Mastercard, PayPal, Square, and Visa get paid six-figure salaries, with some topping $200,000.
Simon Chandler
January 5, 2021
Business Insider
Investing in blockchain technology has become hot due to its role in bitcoin and other promising developments for its use. Here are ways to invest.
Isobel Asher Hamilton
January 5, 2021
Business Insider
"As written, these regulations will only result in undermining the stated goals of the proposal," Dorsey wrote.
Mitchell Clark
January 4, 2021
The Verge
Twitter and Square CEO Jack Dorsey is joining the Electronic Frontier Foundation and others in commenting on the proposed regulations, which would require financial institutions to gather personal information on certain cryptocurrency transactions.
Katie Canales
December 24, 2020
Business Insider
News of the digital payment company's interest in Tidal comes after Jack Dorsey and Jay-Z were seen vacationing together twice this year.
Simon Chandler
December 18, 2020
Business Insider
Bitcoin demystified: how to invest in the cryptocurrency, the risks and the outlook for it, and tips to ensure a higher return
Candy Cheng
December 18, 2020
Business Insider
Faire, a wholesale marketplace startup worth $2.5 billion, is offering new small businesses up to $20,000 to help stock up on inventory.
Tanya Dua, Patrick Coffee and Alex Nicoll
December 17, 2020
Business Insider
Salaries range from $95,181 for a brand innovation manager at Nike to $142,000 for a product manager at Square.
Marley Jay, Christopher Competiello, Vicky Ge Huang and William Edwards
December 9, 2020
Business Insider
The best-performing fund managers of 2020 told us about the single-stock and thematic strategies that paid off, and laid out top ideas for 2021.
December 9, 2020
International Business Times UK
The network of water-filled caissons is designed to be raised within 30 minutes to create a barrier capable of resisting a water rise of three metres above normal.
FinSMEs
November 26, 2020
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Steven Petite
November 24, 2020
Digital Trends
To this day, many of the PlayStation's best games still remain as some of the greatest ever. These are the best 50 games sold for the PS1.
Reuters
November 24, 2020
@bsindia
Its a wager that has drawn eye-rolls from skeptics who believe the volatile cryptocurrency is a speculative asset rather than a store of value like gold
Shalini Nagarajan
November 23, 2020
Business Insider
One of the key catalysts for Bitcoin's rally is the ease of investing via PayPal, Cash App, and Robinhood, the firm said.
Omar Faridi
November 23, 2020
Crowdfund Insider
Digital payments companies PayPal and Square have acquired over 100% of all newly minted Bitcoin (BTC): report.
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References

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