26 May 2017
Visit cib.db.com

Visa reveals major Square stake

12 February 2016  |  8382 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  |  5689 views  |  0 comments | 13 tweets | 3 linkedin
Square sets conservative IPO price range

Square sets conservative IPO price range

06 November 2015  |  5768 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  |  5092 views  |  0 comments | 3 tweets | 1 linkedin
Square takes Register worldwide

Square takes Register worldwide

20 November 2014  |  6851 views  |  0 comments | 7 tweets | 3 linkedin
Visa invests in Square

Visa invests in Square

28 April 2011  |  14748 views  |  1 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comvisit dh.comVisit www.capgemini.com/worldreports

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
11741 views comments | 49 tweets | 77 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7241 views comments | 12 tweets | 24 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
6017 views comments | 12 tweets | 20 linkedin
Enterprise Ethereum Alliance triples in sizeEnterprise Ethereum Alliance triples in si...
5979 views comments | 15 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options

Find your next job