Square IPO set to price Wednesday in highly watched deal
- 9 years ago
Mobile payments company Square Inc is set to price shares for its initial public offering late Wednesday in what is expected to be a harbinger for how other highly valued tech companies are received in their public debuts.
San Francisco-based Square, run by Twitter Inc Chief Executive Jack Dorsey, is one of the most prominent "unicorns," or private companies valued at $1 billion or more, to plan a public debut this year.
This month it sent chills through the technology industry when it set the price range for its IPO at $11 to $13 a share, valuing Square at up to $4.2 billion, or 30 percent less than in a private fundraising round a year ago.
Founded in 2009, the company started as a way for small businesses to accept credit card payments through mobile devices.
It now offers services ranging from loans to invoice software.
San Francisco-based Square, run by Twitter Inc Chief Executive Jack Dorsey, is one of the most prominent "unicorns," or private companies valued at $1 billion or more, to plan a public debut this year.
This month it sent chills through the technology industry when it set the price range for its IPO at $11 to $13 a share, valuing Square at up to $4.2 billion, or 30 percent less than in a private fundraising round a year ago.
Founded in 2009, the company started as a way for small businesses to accept credit card payments through mobile devices.
It now offers services ranging from loans to invoice software.