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Square Prices Its IPO at $9, giving it a $2.7B valuation

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Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#21

Post by russell_h »

gatsby wrote: post #18
bpodgursky wrote: post #9

According to crunchbase, they raised money at a $3.25B valuation in 2012. If they are IPOing at $2.66B now, that means a lot of stock options granted in-between are going to be worthless, unless they were granted at some very different price...

Yes, Square's private per share prices: Series A: $0.21627 Series B: Series C: $5.79817 Series D: $11.014 Series E: $15.46345 IPO @ $9 is not great for lots of folks, but mostly late-stage employees (assuming D & E investors have a liquidation preference - though I don't know for sure).

Series E investors got a ratchet guaranteeing $18.56 per share: http://techcrunch.com/2015/11/10/squares-s-1-of-ratchets-and...

Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#22

Post by TazeTSchnitzel »

jdoliner wrote: post #11
TazeTSchnitzel wrote: post #8

> Square Prices Its IPO at 9$ Not a very helpful submission title. Without knowing the number of shares or previous share price, this is meaningless. The market capitalisation would be better. Including the previous projection better still.

It's not really the submitters fault though. In keeping with HN etiquette they posted the title of the article. I'd be criticizing TC here.

Yeah, I can't blame them for following the usual rules.

Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#25

Post by eanzenberg »

theseatoms wrote: post #23
msoad wrote: post #6

With rumors about  device to device payment talks[1], Square is in tough spot. [1] http://www.wsj.com/articles/apple-in-talks-with-u-s-banks-to...

I'm sorry, what do you mean "though spot"? Just clarifying.

Probably "tough".

Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#26

Post by theseatoms »

geoffwoo wrote: post #16
econner wrote: post #5

Why would they price it at such a low multiple of revenue? Massive liabilities or something?

Very low margin business. As a multiple of net revenue, it's at the high range of comparable payment processors.

And revenue growth prospects aren't all that high?

Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#27

Post by delish »

hn9780470248775 wrote: post #13
msoad wrote: post #6

With rumors about  device to device payment talks[1], Square is in tough spot. [1] http://www.wsj.com/articles/apple-in-talks-with-u-s-banks-to...

Confusingly, my browser renders that symbol () as a... square.

Chrome, it's a 't' surrounded by italicized parentheses. Unsuccessfully searched for unicode lookup to find the text description of the character.

Edit: at http://www.fileformat.info/info/unicode/char/search.htm?q=%E...

I found:

Not sure what to make of it. Apple decided to assign to a Unicode character their logo. Does anyone have context?

Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#28

Post by msoad »

theseatoms wrote: post #23
msoad wrote: post #6

With rumors about  device to device payment talks[1], Square is in tough spot. [1] http://www.wsj.com/articles/apple-in-talks-with-u-s-banks-to...

I'm sorry, what do you mean "though spot"? Just clarifying.

Sorry it was a typo.

Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#29

Post by chc4 »

delish wrote: post #27
hn9780470248775 wrote: post #13

Earlier quoted context omitted.

Confusingly, my browser renders that symbol () as a... square.

Chrome, it's a 't' surrounded by italicized parentheses. Unsuccessfully searched for unicode lookup to find the text description of the character. Edit: at http://www.fileformat.info/info/unicode/char/search.htm?q=%E... I found: Not sure what to make of it. Apple decided to assign to a Unicode character their logo. Does anyone have context?

In firefow it's a w with two dots over it. Is it just some unicode point that is unstandardized, and so overloaded somewhere with the Apple logo?

Re: Square Prices Its IPO at $9, giving it a $2.7B valuation

#30

Post by hn9780470248775 »

hn9780470248775 wrote: post #13
msoad wrote: post #6

With rumors about  device to device payment talks[1], Square is in tough spot. [1] http://www.wsj.com/articles/apple-in-talks-with-u-s-banks-to...

Confusingly, my browser renders that symbol () as a... square.

Apparently Apple uses U+F8FF, part of the Unicode "Private Use Area", to represent its logo. It's not surprising that it fails to render on non-Apple platforms, given this warning in http://www.unicode.org/Public/MAPPINGS/VENDORS/APPLE/CORPCHA... :

  # The following (1) is for the Mac OS Roman encoding
  # (also used in Symbol & Croatian).
  # NOTE: The graphic image associated with the Apple logo character is
  # not authorized for use without permission of Apple, and unauthorized
  # use might constitute trademark infringement.
  0xF8FF	# Apple logo # Roman-0xF0, Symbol-0xF0, Croatian-0xD8
Additional references: http://hea-www.harvard.edu/~fine/OSX/unicode_apple_logo.html http://www.fileformat.info/info/unicode/char/f8ff/index.htm https://en.wikipedia.org/wiki/Private_Use_Areas
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