Square: Valuation $4 billion; Mega-Funding Round


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Business Insider is perpetuating the rumor that, mobile payment startup, Square and CEO Jack Dorsey are traveling around the country in order to find interested parties for a mega-round of institutional investment. Apparently Dorsey and COO Keith Rabois were spotted around Boston's Fidelity and Baltimore's Legg Mason, both of whom are known as big institutional investors.

Now, All Things D reports that the rumor has been confirmed by several sources. If successful, Square could be looking a a valuation of almost $4 billion. That would be pretty impressive. They were able to secure $100 million last year with just a $1 billion valuation so, anything is possible.

Square has not made an official comment on the funding round yet, but many seem to agree it's in the works. So, it's not official yet, but we be following Dorsey and Square to see what come of the funding round, if it is indeed true. Square has really progressed quickly with their new mobile service, and to illustrate how much interest their service's have attracted from small business take a look at the the following chart courtesy of SplatF and Dan Frommer:

Square's Volume

Twitter Reaction to the $4 billion valuation:

Tech bubble strikes again. Square seeks valuation at - wait for it - 4 billion $ to raise a new round of capital. http://t.co/GXxSv3aB 3 hours ago via Twitterrific for Mac ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

@Square eyeing a multi-billion valuation - solid success story
http://t.co/xhkvfO03 12 minutes ago via Twitter for iPhone ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

Are they bleeding cash? Just curious. Square's Valuation Could Be As High As $4 Billion | http://t.co/fiapKed7: http://t.co/he9dAYAk 18 minutes ago via web ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

You thought Instagram's $1 billion valuation was too much for an app? Square app is headed for a $4 billion valuation. http://t.co/dQf3HT37 42 minutes ago via Twitter for Android ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

A $4bn valuation? WOW. Square has to be one of the greatest tech co successes in recent years. Looking forward to more http://t.co/l2p8EVVh 45 minutes ago via web ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

High valuations for young start-ups, but Square is surely, actually, ya'know, worth it? - http://t.co/hRy8AEKl 52 minutes ago via TweetDeck ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

Go @Square! You're my boy blue! Possible $4 Billion Valuation coming soon! @AllThingsD http://t.co/hUYaQff7 #Startups #WebApps #Payments 2 hours ago via bitly ·  Reply ·  Retweet ·  Favorite · powered by @socialditto

Another underpriced gem. RT @WSJ Square, is seeking to raise capital at a valuation of up to $4 billion http://t.co/8Fy0qDgz 4 hours ago via TweetDeck ·  Reply ·  Retweet ·  Favorite · powered by @socialditto