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.

So far, Square is processing in the neighborhood of $4 bn in transactions a year. Its backers include Sequoia Capital, Khosla Ventures and Kleiner Perkins.

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Source: NYT DealBook

Photo: @cdharrison via Flickr