Chapter Square refuted rumors about the sale of the payment service Apple




Before you announce the launch of its own payment system, Apple has considered other options. According to rumors, among them was the purchase of financial services Square, allows you to buy iPhone and iPad owners to accept credit cards. Today founder Jack Dorsey Square denied this rumor.


“First of all, we never were any negotiations to sell – both at the idea, and more than five years of existence. It never happened, “- said Dorsey.

Square provides users with mobile payment terminals and related applications for smartphones and tablets. With their help, small business owners and individuals can accept payments with credit cards, small terminal connecting to your mobile device.

In September, it was reported that Square is considering selling its technology Apple, recently launched a payment system Apple Pay. However, in Cupertino Square allegedly offered less than half the appraised value of the company – $ 3 billion, so the latter declined the offer. It was also noted that the launch of Apple Pay troubled company executives, since Apple is becoming a direct competitor.

Square founder denied these rumors also noting that the company is not planning a public offering of shares on the stock exchange. According to him, at this stage, the company can expand into the lucrative level, directing investments in the development of the company.


“We have never had plans to hold IPO. We have no plans to attract investors and stock market. We believe that now is the best solution for us is to remain a private company, “- said Dorsey.

Rumors about the company’s IPO plans intensified when, according to media reports, Square attracted in October $ 150 million investment in the evaluation of $ 6 billion. In addition, Square recently announced that for the first time in the United States has made the volume of payments processed $ 100 million a day, and about a month ago reported on a billionth of a transaction. However, the service remains unprofitable – according to unofficial data, the company’s net loss for 2013 amounted to $ 100 million.

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