Square Files Its IPO And Reports $154 Million In Losses On $850 Million In Revenue

jack Dorsey Square

Payment processing platform Square has filed for its IPO.

Square’s S-1 filing shows that the company earned $850┬ámillion in net revenue in 2014. Its net losses for the same year were $154 million.

Through the first six months of 2015 net revenues are $560.6 million, up 51% from the same period in 2014. Through the first six months of 2015, its net losses are $77 million, or approximately what Square did last year.

 

Once Square goes public founder and CEO Jack Dorsey will become the CEO of two publicly traded company’s, a factor that Twitter took into account with its SEC while listing possible risks.

“Jack Dorsey, our co-founder, President, and Chief Executive Officer, also serves as Chief Executive Officer of Twitter. This may at times adversely affect his ability to devote time, attention, and effort to Square,”

Square has raised $590 million from venture-capital funding. The company has a private valuation of $6 billion.

The common will list its common stock on the New York Stock Exchange under the “SQ” symbol.