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Square, Inc - an overview

  1. Michael Nguyen (ngu)
  2. “It’s 2015!” - disgruntled patrons
  3. History “Square, Inc. is a financial services, merchant services aggregator and mobile payment company” 2008 - Idea formed by Jack Dorsey and Jim McKelvey 2009 - Officially founded 2010 - First app and service launched Mission statement: “That everyone should be able to accept credit cards—and we‘ve been rethinking buying and selling ever since.” ● Squirrel
  4. Products
  5. Reader P.O.S. + Stand Main products Cash
  6. What’s hot Analytics, marketing, customer relationships Square Capital - loans and fundraising
  7. Financials ● Square has no monthly usage fees, charging only a flat 2.75% fee per swipe. ● Q4 2010 - $1m transactions per week ● Q1 2011 - $1m transactions per day ● 2014 - $30b transactions, $300m profit, $6b valuation ● Square’s revenue is growing 3-4x faster than PayPal ● IPO by end of year
  8. ● Venmo ● Paypal ● Clover ● PayAnywhere ● Intuit GoPayment ● Flint - superior customer service and technical support ● Spark Pay - monthly payment option saves money for high-volume merchants ● Inner Fence ● EMS Plus Competition
  9. Secret sauce Good UX ○ Set-up process is low-barrier ○ Slick and intuitive UI ○ Pricing model works well for SMB Good marketing through Square Cash Comprehensive, one-stop solution for SMB
  10. Prediction YOUR prediction: will the company succeed or fail -- and WHY ● Doubtful VCs have cited heavy competition and tight margins in the payments business. ● Jack Dorsey “as unable to stabilize the [Twitter]’s culture and technology” ● Jack Dorsey compared to Steve Jobs ● Good momentum ● Japan & Australia ● Entering large mainstream chains, e.g. Starbucks & Whole Foods