Even Without Profit, Square Said to Be Eyeing IPO Next Year
First it was Twitter. Now entrepreneur Jack Dorsey is said to be exploring an IPO for Square, the mobile payments startup he co-founded in 2009. The company could go public as early as next year.
In other words, these might be a couple of huge years for Dorsey — and his wallet.
Citing a person “familiar with the matter,” the Wall Street Journal reported that Square has held discussions with banks like Goldman Sachs and Morgan Stanley about a possible IPO. These are early discussions, however, so no bank has been hired and the timing could change.
A Square spokesperson declined to comment on the report.
Related: Twitter IPO Deserves the Hype, If Not the Investment
Meanwhile Twitter, the other company Dorsey co-founded, is set to begin trading today at $26 per share, raising about $1.8 billion. The price values Twitter at more than $14 billion, although the company has yet to turn a profit.
Square also has yet to turn a profit. But the company is said to be bringing in about $550 million in sales this year and projecting $1 billion by 2014. The company expects to process roughly $30 billion in transactions next year.
For more, see the full report from the Wall Street Journal.
Related: The 10 Biggest IPOs Ever
First it was Twitter. Now entrepreneur Jack Dorsey is said to be exploring an IPO for Square, the mobile payments startup he co-founded in 2009. The company could go public as early as next year.
In other words, these might be a couple of huge years for Dorsey — and his wallet.
Citing a person “familiar with the matter,” the Wall Street Journal reported that Square has held discussions with banks like Goldman Sachs and Morgan Stanley about a possible IPO. These are early discussions, however, so no bank has been hired and the timing could change.
A Square spokesperson declined to comment on the report.
Related: Twitter IPO Deserves the Hype, If Not the Investment
Meanwhile Twitter, the other company Dorsey co-founded, is set to begin trading today at $26 per share, raising about $1.8 billion. The price values Twitter at more than $14 billion, although the company has yet to turn a profit.
Square also has yet to turn a profit. But the company is said to be bringing in about $550 million in sales this year and projecting $1 billion by 2014. The company expects to process roughly $30 billion in transactions next year.
For more, see the full report from the Wall Street Journal.
Related: The 10 Biggest IPOs Ever
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