Even Without Profit, Square Said to Be Eyeing IPO Next Year With Twitter's IPO, this year and next are shaping up to be epic for co-founder Jack Dorsey -- and for his wallet.
By Jason Fell
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
