How Square makes money

How Square makes money2:50 PM ET Thu, 10 Oct 2019Square’s iconic card readers have become a staple in trendy coffee shops, boutique stores and neighborhood restaurants. But the company does so much more than just help business owners swipe cards. From payroll services to the Venmo-like Cash App, small business loans and more, Square’s CEO Jack Dorsey has built a $26 billion dollar fintech empire. So where did all Square’s money come from and can the company’s prolific growth last?


How Square makes money2:50 PM ET Thu, 10 Oct 2019Square’s iconic card readers have become a staple in trendy coffee shops, boutique stores and neighborhood restaurants. But the company does so much more than just help business owners swipe cards. From payroll services to the Venmo-like Cash App, small business loans and more, Square’s CEO Jack Dorsey has built a $26 billion dollar fintech empire. So where did all Square’s money come from and can the company’s prolific growth last?
How Square makes money Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10
Keywords: news, cnbc, companies, small, stores, swipe, money, shops, business, trendy, venmolike, squares, staple, square, makes


How Square makes money

How Square makes money

2:50 PM ET Thu, 10 Oct 2019

Square’s iconic card readers have become a staple in trendy coffee shops, boutique stores and neighborhood restaurants. But the company does so much more than just help business owners swipe cards. From payroll services to the Venmo-like Cash App, small business loans and more, Square’s CEO Jack Dorsey has built a $26 billion dollar fintech empire. So where did all Square’s money come from and can the company’s prolific growth last?


Company: cnbc, Activity: cnbc, Date: 2019-10-10
Keywords: news, cnbc, companies, small, stores, swipe, money, shops, business, trendy, venmolike, squares, staple, square, makes


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Square sells food-delivery service Caviar to DoorDash for $410 million

The payments company is selling its on-demand delivery service Caviar to DoorDash for $410 million, Square announced during second-quarter earnings Thursday. According a securities filing, Square bought Caviar for $44.3 million in 2014. Shares of Square dropped as much as 8% Thursday after the payments company issued weaker-than-expected third-quarter earnings guidance. Caviar was the second largest component of Square’s subscription and services revenue stream during the three-month period. Ove


The payments company is selling its on-demand delivery service Caviar to DoorDash for $410 million, Square announced during second-quarter earnings Thursday. According a securities filing, Square bought Caviar for $44.3 million in 2014. Shares of Square dropped as much as 8% Thursday after the payments company issued weaker-than-expected third-quarter earnings guidance. Caviar was the second largest component of Square’s subscription and services revenue stream during the three-month period. Ove
Square sells food-delivery service Caviar to DoorDash for $410 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: kate rooney
Keywords: news, cnbc, companies, doordash, focus, squares, payments, earnings, subscription, company, revenue, million, square, 410, service, caviar, fooddelivery, sells


Square sells food-delivery service Caviar to DoorDash for $410 million

Square is getting out of the food delivery business.

The payments company is selling its on-demand delivery service Caviar to DoorDash for $410 million, Square announced during second-quarter earnings Thursday.

The acquisition will be a combination of cash and DoorDash preferred stock, and is expected to close at the end of this year. According a securities filing, Square bought Caviar for $44.3 million in 2014.

Square CEO Jack Dorsey, who also runs Twitter, said in the move will allow Square to double down on investments and focus in its core payments businesses.

“We have seen a lot of opportunity to strengthen both these ecosystems but those opportunities require more focus and more investment,” Dorsey said on a call with analysts after Square’s second-quarter earnings. “To increase our focus, we decided to sell our Caviar business to DoorDash.”

Shares of Square dropped as much as 8% Thursday after the payments company issued weaker-than-expected third-quarter earnings guidance. The company still beat analysts’ earnings and revenue expectations for the quarter.

Caviar was the second largest component of Square’s subscription and services revenue stream during the three-month period. Cash App was the largest of that category. Overall, Square brought in $251 million in subscription and services revenue for the quarter.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: kate rooney
Keywords: news, cnbc, companies, doordash, focus, squares, payments, earnings, subscription, company, revenue, million, square, 410, service, caviar, fooddelivery, sells


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Jack Dorsey is having an epic year — and he’s not talking about it

Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018. Shares of Twitter and Square — the two San Francisco-based companies he leads — have both rallied more than 45% in 2019 so far. Nevertheless, Dorsey is producing solid financial metrics this year and with very few public comments about them. “Sarah was more than a CFO – she also had operations responsibilities and was essentially a ‘shadow


Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018. Shares of Twitter and Square — the two San Francisco-based companies he leads — have both rallied more than 45% in 2019 so far. Nevertheless, Dorsey is producing solid financial metrics this year and with very few public comments about them. “Sarah was more than a CFO – she also had operations responsibilities and was essentially a ‘shadow
Jack Dorsey is having an epic year — and he’s not talking about it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: kate rooney
Keywords: news, cnbc, companies, hes, growth, squares, dorsey, ceo, dorseys, jack, street, ellis, talking, square, epic, twitter, twitters, having


Jack Dorsey is having an epic year — and he's not talking about it

Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018. Prakash Singh | AFP | Getty Images

Jack Dorsey is on a winning streak this year, but unlike some Silicon Valley CEOs, you probably won’t hear him discuss it. Shares of Twitter and Square — the two San Francisco-based companies he leads — have both rallied more than 45% in 2019 so far. Twitter’s performance marks a sharp turnaround from the stock’s lows two years ago, and Square continues to launch new products and remains one of the most loved names in the mobile payments business. Other CEOs have run two companies — most notably Steve Jobs who successfully ran Apple and Pixar — but Wall Street has been hesitant about the long-term viability of a similar track for Dorsey. Nevertheless, Dorsey is producing solid financial metrics this year and with very few public comments about them. Jeffrey Sonnenfeld, senior associate dean for leadership studies at Yale School of Management, said Dorsey’s performance speaks for itself. He is a “a genius who, unlike [Tesla CEO Elon] Musk, doesn’t have to throw in your face,” Sonnenfeld said, and unlike WeWork founder and CEO Adam Neumann, “doesn’t just pretend to be one.” “He truly is brilliant and dedicated – while avoiding the temptations of vanity and flamboyance his own technology offers some with less discipline,” Sonnenfeld told CNBC. “Like Steve Jobs spanning the leadership of three companies, Dorsey is in rarefied air.” The 42-year-old founded Square in 2009, three years after starting Twitter, and has led as CEO there since day one. Dorsey’s chief executive job at Twitter has been more fluid. He has moved to and from the executive chairman role in the past decade. He took over as CEO for a second time in 2015 after Dick Costolo’s departure and what was announced as an interim leadership role became permanent.

Driving results

Twitter is recovering from political controversy after questions over foreign influence on social media platforms in the 2016 election, which led Dorsey to testify before two Congressional committees. The social media platform is also navigating questions over free speech and online abuse. Meanwhile, Wall Street analysts have questioned Twitter’s user growth. Twitter’s future is looking brighter after this recent quarter though. Revenue was up 18% year over year, the company said, due to domestic growth and it reached an average of 139 million monetizable daily active users in the second quarter — a 14% increase year over year. Twitter beat analyst estimates on the top and bottom lines last week, which helped boost the stock by 8.9%. The rally last week added more than $2.6 billion to Twitter’s market cap and shares are up more than 45% this year. Square meanwhile is adding to its years-long ascent in share price and reports second-quarter results on Thursday. Analysts have bid up the stock thanks to a slew of new product launches, e-commerce opportunities and growth in its popular peer-to-peer cash app. Lisa Ellis, a partner at MoffettNathanson and head of the payments, processors and IT services business, said Dorsey is widely viewed as being “truly visionary” and mission-centric. At Square, she said those qualities have led to the invention of payments hardware, pace of product introductions and ability to attract talent. Despite Square’s 45% rally year to date, it’s still lagging payment bellwethers Mastercard, Visa, and PayPal — known as the “MVP” stocks — year over year. While Square’s 25% performance over a year isn’t bad, “payments is just white-hot,” Ellis said. Square and Twitter both declined to comment on Dorsey’s performance.

Making room at the top

One downside for Dorsey though, according to Ellis, is investors’ concern about his ability to “create space” for strong leaders around him. The stock dropped doubled digits on the day after CFO Sarah Friar announced her departure last fall. Many viewed her as next in line for the top job at Square, and her role as a necessary push-back for the ambitious and entrepreneurial Dorsey. Square hired former Blizzard Entertainment CFO Amrita Ahuja to fill Friar’s shoes in January. “The departure of Square’s long-time CFO, Sarah Friar, last fall continues to be quite controversial,” Ellis said. “Sarah was more than a CFO – she also had operations responsibilities and was essentially a ‘shadow CEO / President’ to Jack.” The company has been focused on growth in their consumer products like the Cash App, and it is applying for a bank charter. But Ellis highlighted Square’s payment volumes, which have been slowing for four quarters in a row, and said its point of sale business is under competitive pressure. And while Dorsey is undoubtedly entrepreneurial — Ellis said that may trait not suit Square’s next chapter. “I worry a bit that Jack is extremely entrepreneurial, so [he] is the right guy to run a company for the first 8 to 10 years, but not necessarily the right guy to take it for the next 10 years, through a period of a lot less glamorous, less sexy growth,” she said.

Celebrity CEO

Wall Street and Main Street seem equally fascinated with Jack Dorsey. The nose-ring-wearing, St. Louis, Missouri-born executive has gained favor with cryptocurrency fanatics for his early days in the coding and hacking community. He was also widely embraced by bitcoin communities after Square added the ability to trade the cryptocurrency on its popular peer-to-peer Cash App last January.

Jack Dorsey, chief executive officer of Twitter Inc. and Square Inc., speaks during an Empowering Entrepreneurs events at Ryerson University in Toronto, Ontario, Canada, on Tuesday, April 2, 2019. Bloomberg | Getty Images

And even if his business moves are being applauded this year, Dorsey’s lifestyle choices are consistently under the microscope. His methods for reaching peak cognitive performance — from fasting, to ice baths, to journaling — are the subject of countless podcasts and blogs. The New York Times likened his lifestyle influence to “Gwyneth Paltrow for Silicon Valley.” Dorsey’s public appearances have been limited this year and have largely focused on self-care and health instead of corporate metrics. Dorsey did interviews with Rolling Stone and went on The Bill Simmons Podcast earlier this year to talk about the state of the company, which resulted in a slight drop in Twitter shares. He also appeared on ultra-marathoner Rich Roll’s podcast to talk about solitude and self-care. Doresy spent 10 days in Myanmar for a meditation retreat, which excluded “devices, reading, writing, physical exercise, music, intoxicants, meat, talking, or even eye contact with others,” Dorsey tweeted at the time. Critics accused him of being tone deaf as Myanmar stands accused of carrying out a mass genocide and crimes against an ethnic minority group.

Next chapter


Company: cnbc, Activity: cnbc, Date: 2019-07-30  Authors: kate rooney
Keywords: news, cnbc, companies, hes, growth, squares, dorsey, ceo, dorseys, jack, street, ellis, talking, square, epic, twitter, twitters, having


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Square falls after reporting slower growth and weak Q1 earnings guidance

Slower growth also weighed on Square’s stock price. Wall Street had been expecting roughly 60 percent revenue growth year over year. On the earnings call, Dorsey highlighted Square’s debit card for businesses that launched in January. “Square Card has been another highlight over the past three months,” he said. Dorsey said 40 percent of merchants didn’t have a business debit card before using the Square Card.


Slower growth also weighed on Square’s stock price. Wall Street had been expecting roughly 60 percent revenue growth year over year. On the earnings call, Dorsey highlighted Square’s debit card for businesses that launched in January. “Square Card has been another highlight over the past three months,” he said. Dorsey said 40 percent of merchants didn’t have a business debit card before using the Square Card.
Square falls after reporting slower growth and weak Q1 earnings guidance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: kate rooney, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, revenue, card, square, falls, quarter, earnings, company, guidance, products, dorsey, squares, slower, q1, weak, growth, stock, reporting


Square falls after reporting slower growth and weak Q1 earnings guidance

The San Francisco-based company, run by Twitter CEO Jack Dorsey, issued earnings-per-share guidance for the first quarter between 6 cents and 8 cents. Wall Street was looking for 11 cents. Its revenue guidance for the first quarter was in line with analysts’ expectations.

Slower growth also weighed on Square’s stock price. The company’s adjusted revenue grew 53 percent year over year, excluding acquisitions — down from 56 percent in the third quarter. Wall Street had been expecting roughly 60 percent revenue growth year over year.

Subscription- and services-based revenue, a metric analysts watch closely, was a bright spot. The company reported $194 million in that portion of revenue, a 144 percent jump year over year. For the full year, Square notched $592 million in subscription- and services-based revenue, up 134 percent year over year.

Square’s peer-to-peer Cash App had another breakout quarter, with more than 15 million monthly active customers in December 2018, doubling from a year earlier.

Dorsey told CNBC in a statement that more than half of Square’s adjusted revenue came from products launched in the last five years. A “network effect” of friends and families helped growth in downloads, he later said on a call with analysts.

“People are utilizing the money they have in Cash App with friends, families and landlords, causing another download, and another, into the network,” Dorsey said.

The payments company announced it hired Amrita Ahuja as its new chief financial officer in January. Wednesday marks her first earnings call in the position, after former CFO Sarah Friar stepped down last year. Ahuja held the same position at Blizzard Entertainment, a division of Blizzard.

On the earnings call, Dorsey highlighted Square’s debit card for businesses that launched in January. It gives Square merchants immediate access to sales made on the payment system, and it added to the company’s growing suite of banking products. The card enables someone to start a business “without even having to go to a bank,” which Dorsey called “pretty powerful, pretty profound and really cool.”

“Square Card has been another highlight over the past three months,” he said. “This is a way for us to continue to serve underserved and unbanked sellers.”

Dorsey said 40 percent of merchants didn’t have a business debit card before using the Square Card. The company has increasingly moved into traditional banks’ turf, mostly by servicing small businesses. It also issues loans through Square Capital and refiled its application for a bank charter in December. An approval would allow it to take federally insured customer deposits.

“For the year ahead we continue to focus on three things and we will continue to strengthen our omni-channel offering,” Dorsey said. “That means that we add strength to in-person payments, to mobile payments and also to online. We’re really excited about everything we’re doing in financial services.”

The stock has rallied 40 percent this year, and more than 70 percent year over year. Square shares were slightly higher ahead of the earnings announcement, trading near $78.95.

“While 4Q was not something to write home about, the SQ story is likely far from over as new products and services can provide a second wind to growth as the year progresses,” Nomura Instinet analyst Dan Dolev said in a note to clients Wednesday. “We expect a negative stock reaction given somewhat underwhelming results.”

— CNBC’s Deidre Bosa contributed reporting.

WATCH: Square racing ahead of Visa, Mastercard this year


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: kate rooney, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, revenue, card, square, falls, quarter, earnings, company, guidance, products, dorsey, squares, slower, q1, weak, growth, stock, reporting


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Square shares fall after Raymond James downgrades stock and predicts nearly 30% retreat

The firm has a $56 fair value price for Square’s stock — roughly 27 percent below where it closed on Monday. The stock has been on a tear over the past year, up 61 percent from last January. The fintech company re-filed its application for an industrial loan company charter in December after pulling it earlier in the year to answer questions from regulators. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance. Revenue upside from some of its ne


The firm has a $56 fair value price for Square’s stock — roughly 27 percent below where it closed on Monday. The stock has been on a tear over the past year, up 61 percent from last January. The fintech company re-filed its application for an industrial loan company charter in December after pulling it earlier in the year to answer questions from regulators. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance. Revenue upside from some of its ne
Square shares fall after Raymond James downgrades stock and predicts nearly 30% retreat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: kate rooney, yana paskova, bloomberg, getty images
Keywords: news, cnbc, companies, raymond, nearly, retreat, small, earlier, company, fintech, square, downgrades, squares, products, fall, predicts, upside, likely, james, stock, shares


Square shares fall after Raymond James downgrades stock and predicts nearly 30% retreat

The firm has a $56 fair value price for Square’s stock — roughly 27 percent below where it closed on Monday. The stock has been on a tear over the past year, up 61 percent from last January. In 2019 alone, it’s up 30 percent.

Raymond James is also bearish on Square’s move into banking. The fintech company re-filed its application for an industrial loan company charter in December after pulling it earlier in the year to answer questions from regulators. The move would allow Square to operate without going through outside banks and intermediaries. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance.

“Adding more credit- and bank- related products increases the cyclicality of an already macro sensitive business and would likely be multiple dilutive,” Davis said.

Square is best known for its credit-card processing hardware. But it also has a popular peer-to-peer payment app, the Cash App, has moved into small business lending through Square Capital, and debuteda debit card for small businesses earlier in January.

Revenue upside from some of its newer products is “likely to prove more difficult” this year though, and the fintech company will have to rely on its core businesses, according to Raymond James.

“We believe revenue upside will likely be more muted this year as subs and services will likely once again need to be the driver of significant upside,” Davis said.


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: kate rooney, yana paskova, bloomberg, getty images
Keywords: news, cnbc, companies, raymond, nearly, retreat, small, earlier, company, fintech, square, downgrades, squares, products, fall, predicts, upside, likely, james, stock, shares


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Square hires Amrita Ahuja as its new CFO

Payments company Square has tapped Amrita Ahuja as its new CFO. Ahuja is currently CFO at Blizzard Entertainment, a division of Activision Blizzard. Ahuja replaces former Square CFO Sarah Friar who announced she was leaving the CFO post in October. Ahuja has held various roles at Activision Blizzard in her eight years there including: SVP of Investor Relations and VP of Finance and Operations. And addressing his own responsibility running two companies, Dorsey said he’s confident in both compani


Payments company Square has tapped Amrita Ahuja as its new CFO. Ahuja is currently CFO at Blizzard Entertainment, a division of Activision Blizzard. Ahuja replaces former Square CFO Sarah Friar who announced she was leaving the CFO post in October. Ahuja has held various roles at Activision Blizzard in her eight years there including: SVP of Investor Relations and VP of Finance and Operations. And addressing his own responsibility running two companies, Dorsey said he’s confident in both compani
Square hires Amrita Ahuja as its new CFO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: paayal zaveri, deirdre bosa, source
Keywords: news, cnbc, companies, companies, activision, dorsey, squares, square, ahuja, cfo, hires, friar, amrita, company, blizzard


Square hires Amrita Ahuja as its new CFO

Payments company Square has tapped Amrita Ahuja as its new CFO. Ahuja is currently CFO at Blizzard Entertainment, a division of Activision Blizzard.

Ahuja replaces former Square CFO Sarah Friar who announced she was leaving the CFO post in October. Friar’s departure stunned investors and the stock is down about 30 percent since Friar made her announcement on October 10.

CEO Jack Dorsey said in a press release that Square has found a true leader in Ahuja.

“Amrita brings the ability to consider and balance opportunities across our entire business, and she will help strengthen our discipline as we invest, build, and scale,” Dorsey said.

Dorsey told CNBC that Ahuja rose to the top of the search for Square’s Board of Directors given her entrepreneurial qualities. Ahuja has held various roles at Activision Blizzard in her eight years there including: SVP of Investor Relations and VP of Finance and Operations.

When asked if Ahuja would take on a similar leadership role as Friar — leading earnings calls and doing public interviews on behalf of the company — Dorsey said he wants to showcase more of Square’s bench of executives.

And addressing his own responsibility running two companies, Dorsey said he’s confident in both companies’ resiliency.

Dorsey also commented on the current macro environment, saying he doesn’t think any one person has a grasp of what’s going on.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: paayal zaveri, deirdre bosa, source
Keywords: news, cnbc, companies, companies, activision, dorsey, squares, square, ahuja, cfo, hires, friar, amrita, company, blizzard


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Square hires Amrita Ahuja as its new CFO

Payments company Square has tapped Amrita Ahuja as its new CFO. Ahuja is currently CFO at Blizzard Entertainment, a division of Activision Blizzard. Ahuja replaces former Square CFO Sarah Friar who announced she was leaving the CFO post in October. Ahuja has held various roles at Activision Blizzard in her eight years there including: SVP of Investor Relations and VP of Finance and Operations. And addressing his own responsibility running two companies, Dorsey said hes confident in both companie


Payments company Square has tapped Amrita Ahuja as its new CFO. Ahuja is currently CFO at Blizzard Entertainment, a division of Activision Blizzard. Ahuja replaces former Square CFO Sarah Friar who announced she was leaving the CFO post in October. Ahuja has held various roles at Activision Blizzard in her eight years there including: SVP of Investor Relations and VP of Finance and Operations. And addressing his own responsibility running two companies, Dorsey said hes confident in both companie
Square hires Amrita Ahuja as its new CFO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: deirdre bosa, paayal zaveri
Keywords: news, cnbc, companies, companies, activision, dorsey, squares, square, ahuja, cfo, hires, friar, amrita, company, blizzard


Square hires Amrita Ahuja as its new CFO

Payments company Square has tapped Amrita Ahuja as its new CFO. Ahuja is currently CFO at Blizzard Entertainment, a division of Activision Blizzard.

Ahuja replaces former Square CFO Sarah Friar who announced she was leaving the CFO post in October. Friar’s departure stunned investors and the stock is down about 30 percent since Friar made her announcement on October 10.

CEO Jack Dorsey said in a press release that Square has found a true leader in Ahuja.

“Amrita brings the ability to consider and balance opportunities across our entire business, and she will help strengthen our discipline as we invest, build, and scale,” Dorsey said.

Dorsey told CNBC that Ahuja rose to the top of the search for Square’s Board of Directors given her entrepreneurial qualities. Ahuja has held various roles at Activision Blizzard in her eight years there including: SVP of Investor Relations and VP of Finance and Operations.

When asked if Ahuja would take on a similar leadership role as Friar — leading earnings calls and doing public interviews on behalf of the company — Dorsey said he wants to showcase more of Square’s bench of executives.

And addressing his own responsibility running two companies, Dorsey said hes confident in both companies resiliency.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: deirdre bosa, paayal zaveri
Keywords: news, cnbc, companies, companies, activision, dorsey, squares, square, ahuja, cfo, hires, friar, amrita, company, blizzard


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Square’s $25 million investment in Eventbrite has more than doubled in value

That’s because Square owns a small ownership stake in Eventbrite that more than doubled in value over the past year. Square disclosed in a public filing last week that the $25 million investment it made in Eventbrite last year has more than doubled in value to $61.9 million. The ownership stake adds another reason why some investors are so bullish on Square, whose stock has roughly doubled in price this year. Friar is credited for bring a critical part of Square’s business over the years, helpin


That’s because Square owns a small ownership stake in Eventbrite that more than doubled in value over the past year. Square disclosed in a public filing last week that the $25 million investment it made in Eventbrite last year has more than doubled in value to $61.9 million. The ownership stake adds another reason why some investors are so bullish on Square, whose stock has roughly doubled in price this year. Friar is credited for bring a critical part of Square’s business over the years, helpin
Square’s $25 million investment in Eventbrite has more than doubled in value Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: eugene kim, scott mlyn
Keywords: news, cnbc, companies, stake, ownership, square, squares, value, doubled, investment, 25, business, million, eventbrite


Square's $25 million investment in Eventbrite has more than doubled in value

Eventbrite’s first earnings report on Monday could draw the interest of one particular company: Square.

That’s because Square owns a small ownership stake in Eventbrite that more than doubled in value over the past year.

Square disclosed in a public filing last week that the $25 million investment it made in Eventbrite last year has more than doubled in value to $61.9 million. The huge gain helped Square turn its first quarterly profit of $20 million in the third quarter.

The ownership stake adds another reason why some investors are so bullish on Square, whose stock has roughly doubled in price this year. While Square has a healthy core payments business, the investment in Eventbrite shows how it’s diversifying its business in many different ways, including lending and food delivery.

The gains also highlight the business-savvy of Sarah Friar, Square’s former CFO, who recently stepped down to take on the CEO position at Nextdoor, a social-networking start-up focused on neighborhoods. Friar is credited for bring a critical part of Square’s business over the years, helping the company go public.

The value of Square’s ownership stake could change substantially following Eventbrite’s earnings on Monday. Square noted this in its filing last week, saying the investment could fluctuate significantly “due to volatility of the investee stock price.”

Square’s spokesperson wasn’t immediately available for comment.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: eugene kim, scott mlyn
Keywords: news, cnbc, companies, stake, ownership, square, squares, value, doubled, investment, 25, business, million, eventbrite


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Cramer’s lightning round: A tale of two Squares

Square Inc.: “I’ve going to give you the two Squares. There’s the Square from the point of view of the businessperson, and they are spending a lot of money to be able to win in the arms race. And then there’s the Square from the point of view of the stock, and people say they’re spending too much money to win the arms race. Cedar Fair LP: “They’ve got to come on, because oh, doctor, that group has gotten very, very hard. But I’ve got to tell you, I still think they’ve got plenty of money to cove


Square Inc.: “I’ve going to give you the two Squares. There’s the Square from the point of view of the businessperson, and they are spending a lot of money to be able to win in the arms race. And then there’s the Square from the point of view of the stock, and people say they’re spending too much money to win the arms race. Cedar Fair LP: “They’ve got to come on, because oh, doctor, that group has gotten very, very hard. But I’ve got to tell you, I still think they’ve got plenty of money to cove
Cramer’s lightning round: A tale of two Squares Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, cramers, theres, win, squares, round, lightning, theyve, money, going, think, view, square, tale, ive, say


Cramer's lightning round: A tale of two Squares

Square Inc.: “I’ve going to give you the two Squares. There’s the Square from the point of view of the businessperson, and they are spending a lot of money to be able to win in the arms race. And then there’s the Square from the point of view of the stock, and people say they’re spending too much money to win the arms race. So what I’m going to say is don’t buy.”

Leggett & Platt Inc.: “I actually like Leggett & Platt very much, but I’ve got to tell you that we are in a housing bear market that is even being made and exacerbated by [Federal Reserve Chair] Jay Powell, so I can’t — even though it has a 4 percent yield — say you should buy it.”

Bank of America Corp.: “I like B of A. I think that B of A is terrific. But understand it’s just going to be stalled here until the Fed gives us a little more direction that they don’t want to wreck the economy.”

Integrated Device Technology Inc.: “Ka-ching, ka-ching, you got a takeover bid! Let’s take that money off the table and go buy a nice cashmere sweater.”

Cedar Fair LP: “They’ve got to come on, because oh, doctor, that group has gotten very, very hard. But I’ve got to tell you, I still think they’ve got plenty of money to cover the dividend. But it’s not my favorite right now.”


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, cramers, theres, win, squares, round, lightning, theyve, money, going, think, view, square, tale, ive, say


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Square’s stock jumps to all-time high after Cash app downloads surpass PayPal’s Venmo

Cumulative downloads of Square’s Cash app have surpassed those of Paypal’s Venmo for the first time after a monster July, according to data from Sensor Tower and Nomura Instinet. Square’s stock rose 3 percent shortly after the opening bell, pushing shares to an record intraday high. Square chief financial officer Sarah Friar told investors during the company’s latest earnings call that she was happy to report that Cash App is consistently a top-30 app in the App Store. In June 2018, Cash App cus


Cumulative downloads of Square’s Cash app have surpassed those of Paypal’s Venmo for the first time after a monster July, according to data from Sensor Tower and Nomura Instinet. Square’s stock rose 3 percent shortly after the opening bell, pushing shares to an record intraday high. Square chief financial officer Sarah Friar told investors during the company’s latest earnings call that she was happy to report that Cash App is consistently a top-30 app in the App Store. In June 2018, Cash App cus
Square’s stock jumps to all-time high after Cash app downloads surpass PayPal’s Venmo Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: thomas franck, source, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, paypals, stock, dolev, app, high, million, shares, downloads, companys, top30, 2018, squares, jumps, surpass, cash, venmo, user


Square's stock jumps to all-time high after Cash app downloads surpass PayPal's Venmo

Cumulative downloads of Square’s Cash app have surpassed those of Paypal’s Venmo for the first time after a monster July, according to data from Sensor Tower and Nomura Instinet.

The Cash app’s cumulative downloads now total 33.5 million, exceeding Venmo’s 32.9 million for the first time ever, after Square’s service grew three times faster than its competitor from PayPal in July, the data showed.

The No. 1 position should boost Square’s shares, Nomura Instinet analyst Dan Dolev told clients Tuesday, with the popular application set to contribute as much as $30 million to $40 million (or 2 to 3 percent) of adjusted net revenues in 2018, he estimates.

Square’s stock rose 3 percent shortly after the opening bell, pushing shares to an record intraday high. The price is up about 726 percent since the company’s initial public offering on Nov. 19, 2015.

“If the Cash App continues to grow rapidly, the business could reach or even exceed $100 million in sales by 2020, even without deeper active user penetration,” Dolev said in a note to clients Tuesday. “With impressive user growth and ongoing decoupling from Bitcoin, we believe Square’s monetization efforts are increasingly bearing fruit.”

The analyst raised his revenue estimates for the payments company and adjusted his 12-month target higher to $86, implying 18.8 percent upside over the next year; Dolev has a buy rating on shares of Square.

Venmo and Square Cash provider users with access to their financial system, allowing customers to electronically send, store and spend money between peers. Square chief financial officer Sarah Friar told investors during the company’s latest earnings call that she was happy to report that Cash App is consistently a top-30 app in the App Store.

In June 2018, Cash App customers spent $250 million with Cash Card, nearly tripling since December 2017 and representing $3 billion on an annualized basis, according to the company’s second-quarter release. In the second quarter of 2018 in the U.S., it was the number-one finance app and on average a top-30 free app in the App Store, the company added.


Company: cnbc, Activity: cnbc, Date: 2018-08-14  Authors: thomas franck, source, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, paypals, stock, dolev, app, high, million, shares, downloads, companys, top30, 2018, squares, jumps, surpass, cash, venmo, user


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