Mobile payments company Square lands $100-million investment
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Payments start-up Square has landed a $100-million round of funding from an investor group led by Kleiner Perkins Caufield & Byers.The round values Square, a hot new player in the nascent market for mobile payments, at more than $1 billion.
Kleiner Perkins partner Mary Meeker will join the Square board.
‘Square has a great product with extensibility which we believe has the potential to have a lasting impact on how people make payments,’ she said in a statement.
Earlier this month Square added former Treasury Secretary Lawrence Summers and venture capitalist Vinod Khosla to its board. In January, Square raised $27.5 million in a second round of funding.
Jack Dorsey, Square’s CEO and the chairman of Twitter said: “We are on course to accelerate our growth in a meaningful way.”
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-- Jessica Guynn