Mobile payment companies in the United
States, Square, or seek a listing in 2014
Technology industry entrepreneurs, Jack Dorsey (Jack Dorsey) is trying to successful implementation within a year of two high-profile initial public offering (IPO).
Pay, according to people familiar with the business start-up, Square, already with several Banks, including Goldman sachs and Morgan Stanley, has carried on the consultation, is about an IPO in 2014.He
warned that there is no bank accept hire, transaction schedule may change.
After the IPO is just Twitter, the latter expected trading since Thursday.Dorsey, chief executive of Square founded the two companies located in San Francisco, and still chairman of Twitter.
A Square spokeswoman declined to comment.Goldman sachs and Morgan Stanley spokesman also declined to comment.
Square, the pace of development now close to the upcoming Twitter, according to the company internal prediction, sales of nearly $1 billion in 2014.According to the income, Square deal with trading volumes expected to reach $30 billion next year.
, according to people familiar with the sales will reach about $550 million this year, the total amount to pay about $20 billion.Square, about 70% to 70% of the revenue to be returned to the credit card company, make the company's net revenue of nearly $110 million to $165 million.
Although many west has said publicly, the company also have no profit, but a familiar with the matter said, dorsey internally discussed a plan, want to make the company to profitability in 2015.
The start-up recently taken steps to expand revenue line, and strengthen the management team, to join several who worked in the listed company, such as chief financial stocks Sarah Farrell (Sarah Friar), he jumps from Salesforce.com last year.Before that, he worked in Goldman sachs group inc., chairman of the standing for 11 years.
Goldman sachs group inc., a former chief financial officer David Viniar (David Viniar) last week to join the board of directors of the Square, instead of starbucks, chairman and chief executive Howard Schultz (Howard Schultz), which served as the director of the year.
Earlier this year, the Square contact Facebook former advertising executive, Kurt raja, lahm (Gokul Rajaram), hope he is responsible for the company retained the growing of sales (POS) terminal services.In addition to the card reader, Square has also developed mobile "wallet" software, can let the customer in the case of not using a credit card to pay.
Goldman sachs group inc. was hired as a Twitter traded underwriters, defeated the companies such as Morgan Stanley and jpmorgan chase.Morgan Stanley because Facebook2012 years of failed deals by some of the blame, at the time listed after Facebook's share price continued to fall, in 4 months market fell by more than half.
Last year, the Square from Rizvi, icarda Traverse by Management company financing about $200 million, the deal valued at $3.25 billion on it.The company has obtained from a diversified investment group of more than $340 million, members of the group including kleiner perkins caufield & byers, Khosla Ventures, sequoia capital, and Visa, along with yahoo's chief executive, Melissa Mayer (Marissa Mayer), and other famous angel investors.
Dorsey assets now would be more than $1 billion, in the future he will have the opportunity to cash out part of Twitter and Square.According to the IPO price range, he hold shares in the company 4.9% could be worth more than $700 million.Market research firm more than out estimate west in Square stake of about 26%, according to the latest estimates of this round of funding, worth about $845 million.