Square Scores $100M At $1B Valuation
"Square is eager to continue our momentum, and we are proud to have the support and expertise of KPCB among our team of investors and advisors," Square CEO -- and Twitter co-founder -- Jack Dorsey stated. "Our goal is to empower everyone to accept payments anywhere, and we are on course to accelerate our growth in a meaningful way." Meanwhile, "The new round of funding means that Square's value has quadrupled in the last six months," writes Mashable. In January, the company raised $27.5 million in a Series B round that valued the company at $240 million.
That said, "Square has been on a tear recently," Mashable notes. "Not only did it add former U.S. Treasury secretary Larry Summers to its board, but it [is] processing $4 million in mobile payments every day and expects to process $1 billion within the next year." It also recently released a "pay-with-your-name" payment system.