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Mobile payment startup Square plans sale as losses widen: WSJ

21
Apr
2014

(Reuters) – Square Inc has been in talks with several rivals for a possible sale as the mobile payments startup looks to stem widening losses and dwindling cash, the Wall Street Journal reported, citing people familiar with the matter. The company spoke to Google Inc earlier this year about a possible sale, the Journal reported, adding that it wasn’t clear whether the talks are continuing. Square, founded in 2009 by Jack Dorsey, co-creator of Twitter Inc, will likely fetch billions of dollars in a sale. Square insiders sold shares earlier this year on the secondary market, valuing the company at roughly $5.2 billion, the Journal said.

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