27 July 2016
Find out more

Square COO Keith Rabois makes surprise exit amid allegations of sexual harassment

25 January 2013  |  6297 views  |  1 Square signature

In a surprise move, Square chief operating officer Keith Rabois has resigned from the San Francisco payment company.

The well-respected Silicon Valley investor and former Paypal executive joined Square in August 2010 when the mobile card reading outfit employed 17 engineers and counted just 1000 active merchant users of its technology.

Today, Square employs almost 500 staff and processes over $10 billion annually from a million-strong user base.

Rabois' departure comes at a time of intense competition in the space, with multiple startups mushrooming internationally and deep-pocketed competitors like Intuit, VeriFone and PayPal fighting for market share.

Square has yet to explain the reasons behind Rabois' decision to quit, but tech newswire AllThingsDigital cites unidentified sources who suggest disagreements and tensions with Square founder Jack Dorsey may have been behind for his sudden exit.

Update: In a blog post, Rabois says that he resigned due to accusations of sexual harassment made against him by Steve Berger, a former lover and another Square employee, who has threatened a lawsuit.

In a statement, Square says: "While we have not found evidence to support any claims, Keith exercised poor judegment that ultimately undermined his ability to remain an effective leader at Square. We accepted his resignation."
KeywordsPEOPLE

Comments: (1)

Nick Green
Nick Green - ISD Consultants - Northampton | 27 January, 2013, 12:19

Has he just seen the EMV writing on the wall.

1 thumb up! 1 thumb up! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Starbucks adds Square readers to menu

Starbucks adds Square readers to menu

04 January 2013  |  12363 views  |  0 comments | 8 tweets | 5 linkedin
Square adds gift cards to Wallet app

Square adds gift cards to Wallet app

10 December 2012  |  6657 views  |  0 comments | 10 tweets | 1 linkedin
BofA first bank to take on Square

BofA first bank to take on Square

13 November 2012  |  7844 views  |  1 comments | 15 tweets | 8 linkedin
Square arrives in Canada

Square arrives in Canada

24 October 2012  |  6340 views  |  1 comments | 11 tweets | 1 linkedin
Square cuts New York taxi pilot short

Square cuts New York taxi pilot short

16 October 2012  |  8422 views  |  0 comments
Payleven launches chip and PIN-based Square clone

Payleven launches chip and PIN-based Square clone

03 October 2012  |  10941 views  |  0 comments | 1 linkedin
Square acquires digital design agency

Square acquires digital design agency

01 October 2012  |  4867 views  |  1 comments
MPowa reports First National Bank deal; denies own claims on Visa acceptance

MPowa reports First National Bank deal; denies own claims on Visa acceptance

01 October 2012  |  13128 views  |  3 comments | 3 tweets
Square closes $200m funding round

Square closes $200m funding round

17 September 2012  |  6619 views  |  0 comments
Fiserv offers banks the tools to take on Square

Fiserv offers banks the tools to take on Square

10 September 2012  |  7506 views  |  1 comments
Latest Square clone launches in Europe

Latest Square clone launches in Europe

24 August 2012  |  9299 views  |  0 comments
Square to close $200m funding round

Square to close $200m funding round

25 July 2012  |  6179 views  |  3 comments
European equivalent of Square, iZettle, commences UK beta trials

European equivalent of Square, iZettle, commences UK beta trials

16 May 2012  |  8757 views  |  4 comments
VeriFone revamps card reader to take on Square

VeriFone revamps card reader to take on Square

08 May 2012  |  6247 views  |  0 comments
PayPal launches Square rival

PayPal launches Square rival

16 March 2012  |  11409 views  |  4 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreVisit VocaLink.com

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9488 views comments | 9 tweets | 4 linkedin
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9399 views 14 comments | 32 tweets | 38 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8207 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6311 views comments | 15 tweets | 19 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
6043 views 0 | 10 tweets | 3 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job