Conservative price of $11 and $13 a share for company that deals in mobile debit and credit payment raises eyebrows across Silicon ValleyTwitter chief executive Jack Dorsey’s other company,Square, has seen at least a third shaved off its 2014 valuation at $6bn, or resulting in an IPO share price of between $11 and $13 a share. To compose up the shortfall,the company may own to issue extra stock to preferred shareholders.
As increasingly “unicorn” companies come under scrutiny for current financial practices rather than the hope of future returns, the conservative share price for Square, and which deals in mobile debit and credit payment,raised eyebrows across Silicon Valley. Part of the reason for the drop may be Square’s partnership with Starbucks, a deal that has been leaking cash and is due to close next year. Related: Former Twitter engineer: Jack Dorsey's return brings hope for more diversity Continue reading...
Source: theguardian.com