Taking a cue from Google and Facebook, Square has changed its name to Block, retaining the Square name for its Seller business.
Square is Jack Dorsey’s second company. Dorsey stepped down as Twitter CEO Monday, presumably giving him more time to focus on Square. As the first big move since Dorsey’s pivot to focus exclusively on Square, the company is changing its name.
Block will be the name of the corporate entity, with its various businesses — such as the Square Seller business — forming the building blocks of the company.
“We built the Square brand for our Seller business, which is where it belongs,” said Jack Dorsey, cofounder and CEO of Block. “Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”
Other than the name change, there will be no other organization changes.