It’s Hip (And Potentially Wildly Profitable) To Be Square
Jack Dorsey’s payments startup Square has revealed that it is processing $8 billion of payments annually, an increase of 800 percent compared to the same time last year. Square, which has increased from 150 to 400 employees over the same period, included that information in a press release announcing its Series D financing round, which includes Citi Ventures, Rizvi Traverse Management, and Starbucks. The found reportedly clocks in at about $200 million, valuing the company at $3.25 billion. [Source: Press release]
