Square Hires Tesla Executive; Plans to Double StaffBy: Shawn Hess - April 2, 2012
Bloomberg reports Square Inc. is making an effort to double their staff this year. Producing credit card readers for the mobile device industry, they handled over $4 billion in transactions just last year. Squares main competitors include Intuit Inc., and Ebay’s PayPal.
This past November Square hired Apple executive Jesse Dorogusker to run their hardware division. In February they hired Alyssa Cutright of PayPay notoriety to run international business, and this week they add former Tesla and YouTube communications guru, Ricardo Reyes.
This lineup is no joke, created by Twitter co-founder Jack Dorsey, they have been able to raise over $140 million from venture capitalists. Going up against some pretty stiff competition, it looks like they actually stand a fairly good chance at success.
Dorsey comments on the advantages of Square’s services:
“We remove all the fees, we remove the restrictions, we remove all the mechanical stuff you have to go through,”
“We can actually make it a delightful software experience.”
“A lot of what we’re doing this year is making sure the small businesses have the data they need to grow,”
“We can say you know you sold this number of cappuccinos today, this number of people also bought biscotti, this is what happens on a rainy day, this is your busiest hour, and then they can make decisions based on all that.”
Check out this CBS video where Dorsey explains a little about Square and we hear from some of his clients:
It sounds exciting to me, Jack Dorsey is truly innovating the way we do business. First Twitter advertising, now easier ways for merchants to get paid; I can’t wait to see how he combines these two companies to work together. It’s always good to see ambitious people gain success.