Startup CEOs Watch Anxiously As Square Begins Trading In NY Stock Exchange
The digital-mobile-payments company Square began trading on the New York Stock Exchange today, and the company has a lot riding on the move.
Founded in 2009, the company developed an easy, convenient way for small businesses and individuals to accept credit and debit card payments through small mobile devices. It has since evolved into a company that offers a number of services for small businesses - while relying on collaborations with companies such as Visa and Apple.
And while Square’s first round of private investing last year resulted in a share price of $15.46, the new initial public offering (IPO) values the share price at $9 - about 25% less than what the company had hoped.
The company said that in addition to one selling shareholder, it will offer 27 million shares and will r...