Carl Durrek Carl is a gaming fanatic, forever stuck on Reddit and all-around lover of food.

Square valued at $6 billion after raising another $150 million in funding

39 sec read

Square has raised an additional $150 million in capital, valuing the six-year-old San Francisco payments company at $6 billion, reports The New York Times. Square, which was co-founded by Twitter’s Jack Dorsey, has now raised roughly $500 million, giving it a hefty war chest to compete against a smattering of other well-funded companies in the mobile payments sector, including Amazon, PayPal and Apple’s new Apple Pay.

It takes money to make money, or so the saying goes. And Square, the e-commerce start-up, wants to make a lot more money. The company recently closed a venture financing round of $150 million, according to a person briefed on the investment, who spoke on condition of anonymity because he was not authorized to speak publicly. The round values Square at $6 billion, the person said. This latest round, which was led by a new investor, the Government of Singapore Investment Corporation, places Square in the company of Internet start-ups like Pinterest and Spotify, which also have valuations around $5 billion to $6 billion. Some previous investors, including Goldman Sachs and Rizvi Traverse Management, also participated in the round, according to this person.

Source
Avatar of Carl Durrek
Carl Durrek Carl is a gaming fanatic, forever stuck on Reddit and all-around lover of food.

Chicago tried and failed to use big data to…

Have you ever seen the movie Minority Report? If you haven’t, all you need to know is that it’s about a special police unit that’s able...
Avatar of Sal McCloskey Sal McCloskey
1 min read

Google believes artificial intelligence will be bigger than virtual…

When Mark Zuckerberg thinks about the future, he sees a world that’s dominated by mobile devices and virtual reality, but when Google CEO Sundar Pichai...
Avatar of Lorie Wimble Lorie Wimble
56 sec read

China wants to build floating nuclear power plants for…

I’m sure you’ve heard about that man-made island chain that China has built in the South China Sea, the one that’s been causing a...
Avatar of Alfie Joshua Alfie Joshua
1 min read

Leave a Reply

Your email address will not be published. Required fields are marked *