IPO

Square IPO to Value Company at $4.2 Billion

Square IPO to Value Company at $4.2 Billion
Image credit: Entrepreneur
2 min read
This story originally appeared on Reuters

Mobile payments company Square Inc, headed by Twitter Inc Chief Executive Jack Dorsey, said it expects its initial public offering to price at between $11 and $13 per share, valuing the company up to $4.2 billion.

The company, which expects to raise over $403.7 million, had initially set a fundraising target of $275 million when it filed for the offering on Oct. 14.

Square, founded in 2009, was valued at $6 billion after its last funding round a year ago.

Mobile payments company Square Inc, headed by Twitter Inc Chief Executive Jack Dorsey, said it expects its initial public offering to price at between $11 and $13 per share, valuing the company up to $4.2 billion.

The company, which expects to raise over $403.7 million, had initially set a fundraising target of $275 million when it filed for the offering on Oct. 14.

Square, founded in 2009, was valued at $6 billion after its last funding round a year ago.

The San Francisco-based company said in a regulatory filing on Friday it would sell 25.7 million Class A common shares, while selling stockholder Start Small Foundation, a charitable fund created by Dorsey, would sell about 1.35 million.

Neither Twitter nor Square has been clear about how Dorsey will split his time between the two companies – a cause of concern for some investors of both companies.

Goldman Sachs & Co, Morgan Stanley & Co LLC and J.P. Morgan Securities LLC are among 10 firms underwriting the offering.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza and Saumyadeb Chakrabarty)

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.