Square raises $100 million in funding, but do they deserve it?

Square, a company that was co-founded by the creator of Twitter, is a service that lets anyone with an iOS or Android powered device accept credit card payments via the use of a relatively low cost accessory that plugs into a headphone jack. It’s received a lot attention by the media, we think it’s mostly due to the fact that the guy who built Twitter is involved, and today the company has just announced that they’ve received $100 million in funding and a $1 billion valuation. Their latest numbers: over 500,000 Square “readers”, the accessory previously mentioned, are in the wild, more than 1 million transactions are being processed per day, and they’re processing more than $3 million per da... »read more

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