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El Izak'o

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What's Going To Happen To Square?

6/11/2014

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Square Stumbles Into Possible Buyout
·       Article confirmed by 2 and 3 people familiar with the company - Sq denied
·       What they do
o   Credit Card Processing - sq
o   Online Market Place - mkt
o   Quick Pay - Cash
o   Starbucks partnership - Wallet
·       Possible Buyers
o   Ebay - Paypal
o   Google - Checkout
o   Apple - general billing
  • Square recorded a loss of roughly $100 million in 2013, broader than its loss in 2012, according to two people familiar with the matter.
  • Sale worth billions 5.2 roughly
  • square-shaped credit-card readers:
    • 1 million merchants
    • processed 20 billion in 2013
    • 550 million in revenue
  • Problems
    • Customer charges 2.75%
    • four-fifths of that money is spent on fees to payment networks like Visa and MasterCard other financial intermediaries and fraud costs.
    • GS gave them credit facility of 100 million
  • exploring IPO options
  • Starbucks partnership
    • gained millions of payees
    • billions in transactions
    • only got 2% of earnings
    • lost 20 million from total deal
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