Monday, October 10, 2011

Mobile: Square Rings Up $2 Billion A Year

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.

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