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Square Files For IPO!

Posted by: on Oct 15, 2015 | No Comments

Information coming from a LA Times article, is stating that San Francisco mobile payments start-up Square filed to go public Wednesday, meaning it could soon test whether investors will back a highly-valued, money-losing tech company whose chief executive also runs social media company Twitter. Square is one of more than 100 tech companies that in recent years have been valued at more than $1 billion in private financing despite not producing a profit or very much of one. In a Securities and Exchange Commission filing, Square said losses jumped to $154 million last year on $850 million in revenue from about $105 million on $552 million in revenue during 2013. Its most recent private financing valued the company at $6 billion.

Sqaure

A turbulent stock market and a seemingly endless supply of venture capital dollars have led to a slowdown in initial public offerings this year.The shaky market has stirred fear, though, among venture capitalists that companies such as Square won’t be as highly valued on Wall Street, as investors seek to rein in the difference between share prices and earnings. However, a successful IPO would result in big victories for Khosla Ventures, Sequoia Capital and other venture capital firms with substantial stakes in Square.

Get the full story at the LATimes Link

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