Digital payments startup Square, founded by Twitter chief Jack Dorsey, announced Wednesday that it has filed with US regulators for a stock market offering to raise $275 million.
The exact date Square will go public was not revealed, but the San Francisco-based company planned to trade on the New York Stock Exchange under the symbol “SQ.”
“We’ve built one of the fairest and most efficient payments businesses in the world,” Dorsey said in a letter included with paperwork filed with the Securities and Exchange Commission.
“Creating more inclusion and greater equality in the global economy is both a social need and a huge business opportunity.”
Square started out in 2009 by providing financial transactions software for smartphones or tablets along with free “dongles” that plug into devices for reading magnetic strips on payment cards.