10 THINGS YOU SHOULD KNOW ABOUT THE SQUARE IPO
Source: Business Insider
- 1.Square has raised more than $590 million in venture-capital funding.
- 2.Its private-market valuation, according to The Wall Street Journal, is $6 billion.
- 3.Square's ticker symbol on the NYSE will be "SQ".
- 4.Jack Dorsey is the full-time CEO of Square and Twitter. The S1 Filing states this as a risk factor for the company.
- 5.Jack Dorsey owns 24.4% of the company, or 71,124,082 shares.
- 6.Square generated $850 million in net revenue in 2014.
- 7.Square's net losses for 2014 were $154 million.
- 8.For the first six months of 2015, Square's net revenues are $560.6 million, which is up 51% from the same period in 2014.
- 9.In Square's S1 Filing, they disclosed that in 2015, a single seller cost the company approximately $5.7 million due to fraud.
- 10.On that note, Square also noted that: "The highly automated nature of, and liquidity offered by, our payments services make us a target for illegal or improper uses, including fraudulent or illegal sales of goods or services, money laundering, and terrorist financing..."