So, who's going to buy Square? Some staggering stats for buyers:
- Processing $2 billion a year
- 800K users and growing like wild fire. May saw 500K users.
- Valued at $1 billion - Probably would cost $1.5B to buy. Maybe $2 billion.
- No more weekly limits on processing. Go nuts, people.
Okay, in case you're not aware, Square is a mobile credit card processing company that allows users to attach swiper to process credit card payments.
At 2.75% cut per transaction, it looks like Square will make $55 mllion on the two billion dollars. And it's growing still.