Square pres 441
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Square pres 441 Presentation Transcript

  • 1. Joseph Gracik EECS 441 – Fall 2013
  • 2. Products • Credit card processing* • Square Reader (device) • App on iOS & Android • 2.75% per swipe • • • • Square Wallet Square Market Square Cash Square Stand
  • 3. Financials • Angel Investors + Series A ($10 M) • Kholsa Ventures • Marissa Mayer • Kevin Rose (Digg) • Series B ($27.5 M) • Sequoia Capital • Visa • Series C ($103 M) • Series D ($200 M) • Citi Ventures • Starbucks • ~ $341 M total • Valuation • $3.25 B in 9/2012 • Est. $5.5 B in 2013
  • 4. History • Founded in 2009 • Jack Dorsey (Twitter co-founder), Jim McKelvey • Reader & app introduced in 2010 • 2011 • 1 million users • 2012 • Starbucks partnership • 2 million users • 2013 • 3 million users at start of year • Processes $1.25 billion/month
  • 5. What’s Hot? • Expansion into new regions • Canada 2012 • Japan 2013 • Targeting small businesses • Square stand • Starbucks partnership
  • 6. Secret Sauce • Low barrier to entry • Reader and app are free • Straightforward pricing • Ease of use
  • 7. Story • Issues with financial regulations • March 2013: Cease & desist from Illinois • August 2013: Fined $507,000 by Florida
  • 8. Competition • PayPal Here • PayPal integration • Accepts checks • Better support • Intuit GoPayment • More flexible pricing • Better support • Traditional processors • Best rates
  • 9. My Prediction • Success • Well-funded and well-connected • Fast growth & good performance • Not a threat to major CC processors, but targeting a different market
  • 10. Questions? • Sources: • http://www.crunchbase.com/company/square • http://www.nytimes.com/2012/07/19/technology/personaltech/as-pay-byphone-advances-square-takes-another-leap-state-of-the-art.html?_r=1& • http://techcrunch.com/2012/06/14/square-doubles-users-accepting-creditcards-to-2-million-in-six-months/ • http://news.cnet.com/8301-1023_3-57559148-93/square-coo-predictsmonster-2013-says-starbucks-is-just-the-beginning/ • http://www.fastcompany.com/3017331/most-innovative-companies2012/05square • http://techcrunch.com/2013/03/01/square-slapped-with-cease-and-desistby-illinois-state-department-of-financial-regulation/ • http://techcrunch.com/2013/08/16/square-fined-507k-in-florida-foroperating-a-mobile-payment-service-without-a-money-transmitter-license/ • https://squareup.com/ • http://en.wikipedia.org/wiki/Square,_Inc. • http://www.pcworld.com/article/239250/square_vs_intuit_gopayment_mob ile_credit_card_systems_compared.html?page=2 • http://www.cardfellow.com/blog/paypal-here-vs-square/