It’s time for Silicon Valley to feed the newest beast. Square is looking to raise an astounding $250 mn at a valuation of between $3 bn and $4 bn. This follows a $100 mn venture capital round last year, according to NYT DealBook, that valued the company at $1.6 bn.
This is crazy, especially since the company is ‘struggling’ to build a sustainable business model, as NYT DealBook puts it, a problem that founder Jack Dorsey is also having at Twitter, the other major start-up he runs.
Source: NYT DealBook
Photo: @cdharrison via Flickr