Square COO Keith Rabois Departs Company
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Square COO Keith Rabois Departs Company
1–10 of 18 posts
Re: Square COO Keith Rabois Departs Company
#2Pretty shocking. Although Square is well on its way, I think there is still a lot of good COO work to do. But I am definitely looking forward to what's up next for Keith (who clearly had a tremendous run at Square).
Re: Square COO Keith Rabois Departs Company
#3didn't Sequoia just lose a partner?
Re: Square COO Keith Rabois Departs Company
#4Wow, I had no idea they were processing $10b/yr (I thought it was That's getting to the point where they make real money (maybe $50mm/yr?) and have a serious shot at profitability.
Re: Square COO Keith Rabois Departs Company
#5didn't Sequoia just lose a partner?
Greg McAdoo - whats the connection?
Re: Square COO Keith Rabois Departs Company
#6Wow, I had no idea they were processing $10b/yr (I thought it was That's getting to the point where they make real money (maybe $50mm/yr?) and have a serious shot at profitability.
If my math is correct: 2.75% of $10B/yr = $275M/yr. Although they may not be charging 2.75% across whole $10B. I don't think Starbucks would pay 2.75%.
Re: Square COO Keith Rabois Departs Company
#7didn't Sequoia just lose a partner?
Greg McAdoo - whats the connection?
Rabois seems moderately connected to Sequoia- they've shared in a ton of deals, given he's a prolific / selective angel & he and Sequoia partner Roelof Boetha both worked at PayPal.
Don't think there's a formal connection between him and McAdoo.
Re: Square COO Keith Rabois Departs Company
#8Wow, I had no idea they were processing $10b/yr (I thought it was That's getting to the point where they make real money (maybe $50mm/yr?) and have a serious shot at profitability.
If my math is correct: 2.75% of $10B/yr = $275M/yr. Although they may not be charging 2.75% across whole $10B. I don't think Starbucks would pay 2.75%.
Don't forget that the credit card companies get most of that.
Re: Square COO Keith Rabois Departs Company
#9Wow, I had no idea they were processing $10b/yr (I thought it was That's getting to the point where they make real money (maybe $50mm/yr?) and have a serious shot at profitability.
If my math is correct: 2.75% of $10B/yr = $275M/yr. Although they may not be charging 2.75% across whole $10B. I don't think Starbucks would pay 2.75%.
They have to give most of that to the credit card companies. I am not sure how much of the 2.75% they get to keep but I would guess less then half, maybe even only a quarter?
Re: Square COO Keith Rabois Departs Company
#10Earlier quoted context omitted.
If my math is correct: 2.75% of $10B/yr = $275M/yr. Although they may not be charging 2.75% across whole $10B. I don't think Starbucks would pay 2.75%.
They have to give most of that to the credit card companies. I am not sure how much of the 2.75% they get to keep but I would guess less then half, maybe even only a quarter?
I remember reading somewhere the average swipe fee is 1.6% for cards. Don't know how accurate that is but I'm assuming it's not far off.