Rumour has it that payments company Square is in talks with Goldman Sachs and Morgan Stanley about a 2014 IPO.
The report came the same day that Twitter, co-founded by Square CEO Jack Dorsey, launched its own IPO. At the time of writing shares were selling for $50, 87% more than initial estimates.
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Industry observers have said that Square’s sales will be close to $1bn next year, a small portion of the $30bn that Square expects to process. Sales this year are estimated to reach $550m on a total payment volume of $20bn.
Dorsey has previously said that Square is non-profit making, although he is said to have talked about making a profit by 2015.
Square, a company that took small traders by storm with its card readers, declined to comment on the story, reported by the Wall Street Journal.
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