Square Reaches One Billion in Worth
June 29, 2011 § Leave a comment
Square, the mobile-payments startup cofounded by Twitter’s Jack Dorsey, just scored payday, reportedly closing at $100 million in series C funding.
Sources told the New York Times that the company’s value may be as high as $1.6 billion, although it has yet to turn a profit. One source in particular told the New York Times that the company would reach $40 million in revenues, although its adjusted operating income puts it $20 million in the red for the year. By next year, it is expected to bring in $200 million in revenues and reach profitability.