initial public offerings (IPOs) trading on American exchanges

Saturday, March 1, 2014

Square postponing initial public offering

San Francisco-based mobile payments company Square will not make its initial public offering this year, according to a report today from Fox Business.

Square has been on IPO watch for months, with a source telling The Wall Street Journal in November that the company met with banks like Goldman Sachs and Morgan Stanley about a 2014 initial public offering.

The company was co-founded by Jack Dorsey, pictured, co-founder of Twitter. The micro-blogging website went public in November — and raised as much as $2.1 billion in the process.

Square has raised $341 million in venture capital funding to date. Investors include Starbucks, Richard Branson, Sequoia Capital, Visa, Marissa Mayer, and more.

Square’s payment processors can be plugged into an Apple or Android mobile device. The company made news earlier this week for buying scheduling startup BookFresh.

A Square spokesperson declined to comment.

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