Square has reportedly filed to go public.
The company, still under the helm of Jack Dorsey — also Twitter’s interim CEO — filed for an initial public offering confidentially, according to a report from Bloomberg. Because the filing is confidential, there’s no easy way to verify this claim. Reached by VentureBeat, Square declined to comment on the news.
Today’s news follows earlier rumors of Square’s interest in going public this year.
Over the past year, Square has done something of an about-face. In April 2014, rumors surfaced that the company had lost $100 million and considered selling itself off. Since then the company has shuttered two consumer products, Square Wallet and Square Order, and launched a slew of business products.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
In addition to analytics, inventory, payroll, and scheduling apps, Square also now offers cash advances and a tool called cash tags, which enables businesses to collect money from consumers digitally. The company also refined its interests in the food industry; it bought Caviar, a delivery service for high-end restaurant fare, and FastBite, for cheap meals delivered in under 15 minutes.
These consolidations, closures, and product launches reveal a company preparing for something big … perhaps an IPO.
