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Square might sell to Google instead of pursuing IPO


News by Andrew Kameka on Monday April 21, 2014.

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There have long been rumors that Square, the company best known for processing credit card payments through a small reader connected to an Android or iOS device, might be acquired by another company. Though Apple's rumored push into mobile payments might make Square an acquisition target, it's Google that's rumored to be opening its checkbook.

Square is quick to state that it is not in talks with Google after a spokesman told the Wall Street Journal, "We are not, nor have we ever been in acquisition talks with Google." Though no formal talks have taken place between the two sides, sources from the Journal claim that Square is considering a possible sale to Google or other larger payment companies like PayPal. Square lost $100 million last year, and the company has spent more than half of the $340 million it has raised from venture capital firms. With plans for an IPO stalled, selling seems to be an attractive way to grow the company or be folded into a larger organization better equipped to make the business profitable.

The full details of the dilemma are available at the source link below.

source: Wall Street Journal

 
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Andrew Kameka
Andrew is based in Miami, Florida.

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