21 January 2017
visit http://www.wolterskluwerfs.com

Visa reveals major Square stake

12 February 2016  |  8014 views  |  0 Square chip card reader

Shares in Jack Dorsey's Square received a much needed boost on Friday on news that Visa has a 9.99% stake of Class A shares in the payments firm.

In an SEC filing, Visa revealed that it holds about 4.19 million of Square’s Class B shares. These don't trade publically but can be converted to about 3.52 million Class A shares - a 9.99% stake in the publicly-traded share class.

The news sent shares in Square up nearly 10% to $9.84 during the day before settling down during the afternoon to just above $9 - the company's November IPO price. During its first day of trading, the stock jumped to over $13 dollars but has since fallen back sharply.

Visa invested in Square back when the mobile payments firm was a private company in 2011, although the size of the stake was unknown.

Comments: (0)

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

Square price sets hearts fluttering in over-heated tech sector

Square price sets hearts fluttering in over-heated tech sector

19 November 2015  |  5488 views  |  0 comments | 13 tweets | 3 linkedin
Square sets conservative IPO price range

Square sets conservative IPO price range

06 November 2015  |  5579 views  |  1 comments | 5 tweets | 7 linkedin
Square poaches Visa CMO to lead customer acquisition

Square poaches Visa CMO to lead customer acquisition

10 December 2014  |  4943 views  |  0 comments | 3 tweets | 1 linkedin
Square takes Register worldwide

Square takes Register worldwide

20 November 2014  |  6646 views  |  0 comments | 7 tweets | 3 linkedin
Visa invests in Square

Visa invests in Square

28 April 2011  |  14607 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit wavestone.co.ukVisit capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
16134 views comments | 92 tweets | 111 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
12779 views comments | 48 tweets | 44 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
11024 views comments | 31 tweets | 20 linkedin
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
6787 views comments | 39 tweets | 40 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
6478 views comments | 21 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job