SlideShare a Scribd company logo
The Simplest Way to Make Money



Elizabeth Cheng | Jing-Jing Li | Irwin Liu | Jessica Lukrich
The Square Proposition

                                                       Simple pricing:
     Huge market               Inspiring and          2.75%
                                                      2 75% per swipe
      opportunity              experienced
       in mobile               management
       payments                    team

                                                      Zero friction: no
                                                     commitment and
                                                       daily deposit

High future                               Solid
                                          S lid
 valuation                              business
  and ROI                              model with    Free iPhone, iPad,
 even with                            high revenue   Android app and
later stage                            g
                                       generation       ca d eade
                                                        card reader
investment

                     Defensible
                    business and
                       strong                        The simplest way
                     execution                        to make money
                      strategy
                                                                          1
Management Team
 The team has the background, proven track record and vision to succeed

            Jack Dorsey – Co-Founder, CEO         Successfully Managing
             Co-Founder, Chairman of Twitter
             Advisor at Ustream

            Keith Rabois – COO
             VP of Strategy & Business
                   f St t       B i
              Development for Slide
             VP of Business & Corporate
              Development at LinkedIn
             EVP of Business Development and
                     fB i     D     l    t  d
              Policy for PayPal

            Bob Lee – CTO
             Founder at Twubble
             Software Engineer at Google           Other Key Advisors
                                                          Gideon Yu
                                                        Roelof Botha
            Jim McKelvey – Co-Founder
                                                         Ryan Gilbert
             Owner at Mira                             Alyssa Milano
             Co-founder at Third Degree Glass            Greg Kidd
              Factory                                   Andrew Rasiej
                                                                          2
The Market
     Mobile payments is a massive, rapidly growing but underpenetrated industry

      $250                                                                       $214
               CAGR ‘10 – ’14: 68%
      $200                                                           $162
      $150                                                 $119
      $
      $100                                    $81
                                  $46
       $50            $16
         $0
                  2010            2011        2012         2013      2014        2015

                      Dollar Amount of Mobile Payments In The U.S. (billions)*

        Opportunity                      Market Changes                 Square Positioning
  Traditional card readers           Rapidly burgeoning interest
                                                                         First mover advantage
 are unwieldy & expensive            in mobile payments
                                                                         Scalable across
  Difficult for small business       NFC tech adoption but
                                                                        multiple platforms
 owners to use card services         credit card usage prevails
                                                                         Low costs address
  Alternative online services        Capturing a loyal user base
                                                                        target customer needs
 are expensive                       has huge revenue potential

*Source: Aite Group                                                                               3
The Product
    Square satisfies buyers and vendors through an easy‐to‐adopt platform

     Consumer Desires
                                                                            Designate amount
 Use credit cards
 Swipe and go

      Vendor Desires
       e do es es                                                           Swipe credit card
 Accept credit cards
 Save on processing fees                                                  Enter tip and sign
 Simple and intuitive                                                    with finger on-screen
  interface
                                                                                Transaction
                                                                                completed



                                     The Technology
  Transaction              Magnetic reader that plugs into headphone jack of smartphone
  Data Conversion          Once card is swiped, data is converted into an audio signal
  Information Processing   Processors route signal to Square software application
  Transmission             Encrypted data sent through Wi-Fi or 3G to back-end servers
  Communication            No info stored on devices, auto-communication with payment network     4
Value to User
            Square offers the simplest and most compelling way to accept credit cards



                                         Traditional Card                     Online Card
                                         Processing Firms                     Processing
Ease of




                                                                              Tied to computer;
                Scan and go;            Requires some training;
  Use




                                                                                 Manual input
              Intuitive interface     Problems require technician
                                                                             of card information
E




                                           Expensive reader;
 Costs




             Free card reader;      Up to 5% variable + 30¢ flat rate;    Up to 3.5% variable rate
               Flat 2 75% fee
                    2.75%                Expensive upda e a d
                                           pe s e update and                   + 30¢ flat rate
                                                                                       a ae
 C




                                           maintenance fees

              Saves money;
   nefits




                                                                          Cheaper than traditional;
               Saves time;                  Familiar to user;
                                                                         Only requires computer and
             Accessible across             Technical support
 Ben




                                                                                   internet
             multiple devices

                                                                                                      5
Customer Acquisition
    Through wide exposure, Square targets anyone that seeks easy payment

                                 Target Customer
          Small businesses, independent workers, individuals selling goods
          Market: anyone who accepts payments
         SSquare’s C t gaining customer awareness + free card reader
                  ’ Cost:     i i    t                   f         d    d




  Selling Points       Advertisement                  Retail
 Easy convenient      Social media and        Selling through
  everyday usage        internet advertising
                                           g     online registration
                                                           g
 No surprise fees     Traditional              and Apple stores
 Adaptable across      mediums with max        Follows razor blade
  multiple devices      exposure/min cost        retail model


        Acquiring 100,000+ customers per month
                                                                              6
Competition and Defensibility
   Its established  presence and niche market give Square a competitive edge

                                                               Square
                               Characteristics
                                                             Advantages

 Direct Competitors:          Similar technology
                                                gy         Established clientele
GoPayment, PAYware             application                  as first mover
                              Higher fees and rates       No credit check
                               for certain options         No monthly fees
                              Intuit or VeriFone          Device compatibility
                               service support             Apple partnership



  Emerging Market:
                              Built-in hardware for
                               Built in                    POS experience
     Near Field
     N    Fi ld                phones                      Compatible across
  Communications              Potentially eliminate        differing hardware
                               use of credit cards         Unique market focus
                              Cross interaction with      Can integrate NFC
                               other phone apps
                                th      h                   technology
                                                            t h l


                                                                                    7
Financial Model and Projections
   Square will make for a lucrative investment even with conservative projections
By Year End                            2011E    2012E    2012E    2014E    2015E
Payments Processed Per Day ($
   y                     y ($mm)
                               )         1.1       7.7     23.1     41.6     49.5
 Growth Rate                          1000%     600%     200%       80%      19%
Annual Revenue                      $ 10.59 $   74.11 $ 222.34 $ 400.21 $ 476.25
EBITDA                                  0.53      4.45    20.01    44.02    52.39
            g
 EBITDA Margin                           5%        6%       9%      11%      11%
EBIT                                    0.32      2.96    13.34    28.01    33.34
 EBIT Margin                             3%        4%       6%       7%       7%

 $120                                                       Assumptions
                                                                 p
 $100                                                 • Investment: $20m
  $80                                                 • Stake: 20%
  $60                                                 • Hurdle Rate: 15%
  $40
  $20
   $-
                                                             IRR of 55%
          2011E 2012E 2013E 2014E 2015E
                                                       • Sale or IPO at 2.5x
               Best    Base        Worst               2015 Revenue
                                                                                    8
Why Invest Now
  Additional investment will generate outsize returns due to growth prospects 

Need for Additional Investment                High Potential for Growth

         Additional resources                   Potential for growth will
         needed to maintain                     allow new investors to
         first mover advantage                  see an outsized return
         Competitive pressures                  Customer adoption will
         increasing                             scale up exponentially
         Expected spe d in
           pec ed spend                         The key to success will
                                                       y
         advertising and                        be in locking in a loyal
         customer acquisition                   customer base early



                                                                       * Additional
                                 $27.5                                 capital from
                                                                       Sequoia and
                                                  $20.0                new investor
           $
           $10.0                                                       co so u
                                                                       consortium


                                             Proposed
        Series A            Series B          Series C                                9
Exit Strategies
   Square will have multiple exit opportunities that will result in a high ROI

         Highly Viable M&A Prospects                            IPO Considerations

                                                             Depends on user base
 Multiple buyers possible  competitive bidding
                                                              expansion success and
 Valuable user base with recurring revenue stream
                                                              consideration of M&A
 Clear fit into product portfolios
                                                             High standalone potential




 Large Companies
   Competing in                                                 Potential Valuation
   Mobile Space

  Service Providers                                         2         $700mm-$1.4bn
                                                      Rev
   and Hardware
   Manufacturers
                                                      EBITDA
                                                                 $450mm-
                                                            1
                                                                 $800mm
                                                                 $800

Payment Processors                                          $400
                                                             0     $700
                                                                     500   $1000
                                                                             1000   $1300 $1600
                                                                                      1500  2000
                                                                            ($mm)

                                                                                                   10
Appendix
 Index of Presentation and Appendix Slides

Presentation Slides                    Appendix S des
                                        ppe d Slides
1. The Square Proposition              •     Financial Assumptions
2. Management Team                     •     Financial Model
3. h
3 The Market
         k t                           •     Assumptions from
                                             A     ti    f
4. The Product                               Comparables
5. Value to User                       •     Future Valuation Perspective
6. Customer Acquisition                •     Concerns and Responses
                                             C          dR
7. Competition and                     •     Partnerships
   Defensibility                       •     Company Vision
8. Financial Model and                 •     Market Analysis
   Projections
9. Why Invest Now
10. Exit Strategies
Financial Assumptions
 Growth expected to scale exponentially and valuation will increase



M   D                                  Growth Assumptions
               Expected to process $40 million in transactions in Q1 of 2011
O   R          Currently signing up 100,000 merchants per month
                         y g g p        ,                p
               Compare to 30,000 monthly signups last Fall.
D   I
               $1 million in payments per day
               Processing a few million in mobile transactions per week as of last fall

E   V
L   E                                Valuation Assumptions
               Valued at $240m after last round of funding in January 2011 ($27.5m)
                                                            g               (      )
    R          Valued at $40m at first round of funding in December 2009 ($10.0m)


    S
                                               Sources
               DealBook, TechCrunch, Wall Street Journal, VentureBeat, Capital IQ
Financial Model
By Year End
 By Year End                              2011E
                                           2011E        2012E
                                                         2012E   2012E
                                                                  2013E   2014E
                                                                           2014E    2015E
                                                                                     2015E
Payments Processed Per Day y ( ) )
 Payments Processed Per Day ($mm)
   yy                    y ($
                           ($mm)              1.1
                                              1.1           7.7
                                                            7.7     23.1
                                                                     23.1   41.6
                                                                            41.58     49.5
                                                                                   49.4802
 Growth Rate
  Growth Rate                            1000%
                                          1000%         600%
                                                         600%     200%
                                                                   200%     80%
                                                                             80%      19%
                                                                                      19%
Annual Revenue
 Annual Revenue                        $ 10.59 $
                                       $ 10.59 $        74.11 $ 222.34 $ 400.21 $ 476.25
                                                         74.11 $ 222.34 $ 400.21 $ 476.25
EBITDA Margin
  EBITDA                                      5%
                                            0.53            6%
                                                          4.45        9%
                                                                  20.01      11%
                                                                           44.02      11%
                                                                                    52.39
 EBITDA Margin
 EBITDA                                $    0.53 $
                                             5%           4.45 $
                                                           6%     20.01 $
                                                                     9%    44.02 $
                                                                            11%      52.39
                                                                                      11%
EBIT Margin
  EBIT a g
                                            0 3%
                                            0.32
                                              32            4%
                                                             %
                                                          2.96
                                                          2 96        6%
                                                                  13.34
                                                                  13 34       7%
                                                                           28.01
                                                                           28 01    33 7%
                                                                                    33.34
                                                                                        34
 EBIT                                  $    0.32 $        2.59 $  13.34 $  29.22 $   34.77
 EBIT Margin                                 3%            4%        6%       7%       7%
 Growth Assumptions                          2011E       2012E       2013E       2014E        2015E
 Best Case                                  1000%        800%        400%        100%          50%
 Base Case                                  1000%        600%        200%         80%          19%
 Worst Case                                 1000%        200%        100%         20%           5%

 EBIT                                        2011E       2012E       2013E       2014E        2015E
 Best                                  $      0.32 $      3.34 $     28.59 $     69.56 $     104.34
 Base                                  $      0.32
                                              0 32 $      2.59
                                                          2 59 $     13.34
                                                                     13 34 $     29.22
                                                                                 29 22 $      34.77
                                                                                              34 77
 Worst                                 $      0.32 $      1.11 $      3.81 $      5.56 $       5.84



NPV & IRR Calculation                      2011E       2012E       2013E       2014E       2015E        Sale
$                          (20.00)
                           (20 00) $        0.06
                                            0 06 $      0.52
                                                        0 52 $      2.67
                                                                    2 67 $      5.84
                                                                                5 84 $      6.95
                                                                                            6 95 $    238.12
                                                                                                      238 12
NPV @ 15%                            $ 79.95
IRR                                     55%     * represents 20% stake
Assumptions from Comparables
     Margin projections derived from median of comparable companies
Company Name              LTM Gross   LTM EBITDA    LTM EBIT    LTM Net       LTM Total
                          Margin %     Margin %    Margin %     Income Revenues, 1 Yr
                                                               Margin %      Growth %
Ebay Inc.                    72.0%         31.0%      22.7%       19.7%            4.9%
Gerber Scientific Inc.       30.7%          4.5%       2.9%      (3.0%)          21.0%
Iltron Inc
        Inc.                 30.9%
                             30 9%         14.0%
                                           14 0%       8.2%
                                                       8 2%        4.6%
                                                                   4 6%          33.9%
                                                                                 33 9%
Iteris Inc.                  43.5%          8.3%       6.4%      (8.3%)          (1.2%)
Mastercard Incorporated     100.0%         53.3%      50.7%       33.3%            8.6%
PAR Technology Corp.         26.1%          2.7%       1.6%        1.3%            7.6%
Perceptron Inc.              37.3%          0.8%     (1.0%)        1.9%          30.4%
VeriFone Systems Inc
                   Inc.      37.7%
                             37 7%         14.8%
                                           14 8%      11.3%
                                                      11 3%       11.3%
                                                                  11 3%          24.3%
                                                                                 24 3%
Veritec Inc.                 60.8%       (64.2%)    (67.8%)     (86.5%)         108.0%
Visa Incorporated            84.4%         60.0%      56.8%       37.0%          17.0%

Summary Statistics        LTM Gross   LTM EBITDA    LTM EBIT    LTM Net      LTM Total
                          Margin %
                          M    i        Margin %
                                        M    i     Margin %
                                                   M   i        Income R
                                                                I        Revenues, 1 Y
                                                                                     Yr
                                                               Margin %      Growth %
High                        100.0%         60.0%      56.8%        37.0%       108.0%
Low                          26.1%       (64.2%)    (67.8%)      (86.5%)        (1.2%)
Mean                         52.3%         12.5%       9.2%         1.1%        25.5%
Median                     40.6%        11.2%        7.3%        3.3%          19.0%
Future Valuation Perspective
         Square’s valuation would price at premium to multiples due to early stage


Company Name                   TEV/Total TEV/EBITDA LTM    TEV/EBIT LTM -            NTM            NTM     NTM Forward
                          Revenues LTM -        - Latest           Latest    TEV/Forward     TEV/Forward            P/E
                                  Latest                                    Total Revenue         EBITDA
Ebay Inc.                          3.83x        12.34x            16.88x              3.3x          9.4x          15.9x
Gerber Scientific I
G b S i tifi Inc.                  0.49x
                                   0 49         10.95x
                                                10 95             16.80x
                                                                  16 80               0.5x
                                                                                      05            7.9x
                                                                                                    79            21.9x
                                                                                                                  21 9
Iltron Inc.                        0.71x         8.55x            11.10x              0.7x          6.3x          16.5x
Iteris Inc.                        1.18x         8.47x            14.51x              1.2x          7.7x          13.0x
Mastercard Incorporated            5.46x        10.23x            10.77x              4.9x          9.0x          15.8x
PAR Technology Corp.               0.29x        10.73x            17.98x              0.3x          7.9x          23.7x
Perceptron Inc
             Inc.                  0.53x
                                   0 53x        67.04x
                                                67 04x               NM               0.5x
                                                                                      0 5x          9.7x
                                                                                                    9 7x          37.3x
                                                                                                                  37 3x
VeriFone Systems Inc.              4.49x        30.27x            39.89x              4.0x         19.3x          29.6x
Veritec Inc.                       4.03x           NM                NM                  -             -               -
Visa Incorporated                  6.12x        10.21x            10.80x              5.5x          8.6x          15.3x

Summary Statistics
      y                        TEV/Total TEV/EBITDA LTM
                                  /         /              TEV/EBIT LTM -
                                                              /                      NTM            NTM     NTM Forward
                          Revenues LTM -        - Latest           Latest    TEV/Forward     TEV/Forward            P/E
                                  Latest                                    Total Revenue         EBITDA
High                               6.12x        67.04x            39.89x              5.5x         19.3x          37.3x
Low                                0.29x         8.47x            10.77x              0.3x           6.3x         13.0x
Mean                               2.71x
                                   2 71x        18.75x
                                                18 75x            17.34x
                                                                  17 34x              2.3x
                                                                                      2 3x           9.5x
                                                                                                     9 5x         21.0x
                                                                                                                  21 0x
Median                             2.51x        10.73x            15.66x              1.2x           8.6x         16.5x
Concerns and Responses
       Concern                           Response
                                Credit cards too engrained in
  NFC will overtake credit
                                daily life to become outdated
         card use
                                         in the near future

   Large companies will             Square has a different
    leverage ability to           target audience and has
  provide at lower prices        the first mover advantage

 Consumer concerns over          Partner bank verifies service
    security on a newly            and secure server makes
   introduced platform            security claims unfounded

                                Square has a successfully run
     Square will face                and experienced
      execution risks               management team

                                    Flexibility of the industry
No defining industry standard       promotes innovation; a
                                standard will soon be reached
Partnerships
 There are a multitude of partnership opportunities for Square

        Present                                  Future
Company Vision
  Square: 0 to $60 in under 10 seconds

Target consumers are                            Free app for iPhone,
    small business                                 iPad Android
                                                   iP d & A d id




                                                Daily deposit to your
                                                  bank account




                                                Simple pricing, free
                                                     shipping


        Vision is to create zero friction and
        complexity around payments
                                                The simplest way to
        Emphasis on simplicity & efficiency        make money
Market Analysis
 Strong market growth and advantageous company position



 Market                 Position
Expanding &       First Mover Advantage          High growth
unsaturated           Few comparable              potential
marketplace              competitors
                  Currently underfunded




                Large Competitors            Small Competitors
Competitors        Ie. Google, Apple
                                               Ie. VeriFone, Intuit
                   Not focused enough to
                   drive Square out of its     Lack first mover
                   niche market                advantage

More Related Content

What's hot

Square Pitch Deck
Square Pitch DeckSquare Pitch Deck
Square Pitch Deck
Vishal Kumar
 
The Deck We Used to Raise $1M Seed Round
The Deck We Used to Raise $1M Seed RoundThe Deck We Used to Raise $1M Seed Round
The Deck We Used to Raise $1M Seed Round
Ben Lang
 
Foursquare's 1st Pitch Deck
Foursquare's 1st Pitch DeckFoursquare's 1st Pitch Deck
Foursquare's 1st Pitch Deck
Rami Al-Karmi
 
WeWork Series D Pitch Deck ($355M Raised)
WeWork Series D Pitch Deck ($355M Raised)WeWork Series D Pitch Deck ($355M Raised)
WeWork Series D Pitch Deck ($355M Raised)
startuphome
 
Tinder Pitch Deck
Tinder Pitch DeckTinder Pitch Deck
Tinder Pitch Deck
Ryan Gum
 
Stripe Pitch Deck designed by Zlides
Stripe Pitch Deck designed by ZlidesStripe Pitch Deck designed by Zlides
Stripe Pitch Deck designed by Zlides
Zlides
 
Pitch Deck Teardown: Scrintal's $1M Seed deck
Pitch Deck Teardown: Scrintal's $1M Seed deckPitch Deck Teardown: Scrintal's $1M Seed deck
Pitch Deck Teardown: Scrintal's $1M Seed deck
HajeJanKamps
 
Front Series B Deck
Front Series B DeckFront Series B Deck
Front Series B Deck
Mathilde Collin
 
Dropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deck
Dropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deckDropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deck
Dropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deck
AA BB
 
Pitch Deck Teardown: Northspyre's $25 million Series B deck
Pitch Deck Teardown: Northspyre's $25 million Series B deckPitch Deck Teardown: Northspyre's $25 million Series B deck
Pitch Deck Teardown: Northspyre's $25 million Series B deck
HajeJanKamps
 
The investor presentation we used to raise 2 million dollars
The investor presentation we used to raise 2 million dollarsThe investor presentation we used to raise 2 million dollars
The investor presentation we used to raise 2 million dollars
Mikael Cho
 
Linkedin Series B Pitch Deck
Linkedin Series B Pitch DeckLinkedin Series B Pitch Deck
Linkedin Series B Pitch Deck
Joseph Hsieh
 
SEOmoz Pitch Deck July 2011
SEOmoz Pitch Deck July 2011SEOmoz Pitch Deck July 2011
SEOmoz Pitch Deck July 2011
Rand Fishkin
 
Pendo Series B Investor Deck External
Pendo Series B Investor Deck ExternalPendo Series B Investor Deck External
Pendo Series B Investor Deck External
Todd Olson
 
Intercom's first pitch deck!
Intercom's first pitch deck!Intercom's first pitch deck!
Intercom's first pitch deck!
Eoghan McCabe
 
Pitch Deck Teardown: Nokod Security's $8M Seed deck
Pitch Deck Teardown: Nokod Security's $8M Seed deckPitch Deck Teardown: Nokod Security's $8M Seed deck
Pitch Deck Teardown: Nokod Security's $8M Seed deck
HajeJanKamps
 
Coinbase Pitch Deck designed by Zlides
Coinbase Pitch Deck designed by ZlidesCoinbase Pitch Deck designed by Zlides
Coinbase Pitch Deck designed by Zlides
Zlides
 
Pitch Deck Teardown: Mint House's $35M Series B deck
Pitch Deck Teardown: Mint House's $35M Series B deckPitch Deck Teardown: Mint House's $35M Series B deck
Pitch Deck Teardown: Mint House's $35M Series B deck
HajeJanKamps
 
Simple. Friendly. Smart.
Simple. Friendly. Smart. Simple. Friendly. Smart.
Simple. Friendly. Smart.
Oscar Health Insurance
 
The deck we used to raise $270k for our startup Castle
The deck we used to raise $270k for our startup CastleThe deck we used to raise $270k for our startup Castle
The deck we used to raise $270k for our startup Castle
entercastle
 

What's hot (20)

Square Pitch Deck
Square Pitch DeckSquare Pitch Deck
Square Pitch Deck
 
The Deck We Used to Raise $1M Seed Round
The Deck We Used to Raise $1M Seed RoundThe Deck We Used to Raise $1M Seed Round
The Deck We Used to Raise $1M Seed Round
 
Foursquare's 1st Pitch Deck
Foursquare's 1st Pitch DeckFoursquare's 1st Pitch Deck
Foursquare's 1st Pitch Deck
 
WeWork Series D Pitch Deck ($355M Raised)
WeWork Series D Pitch Deck ($355M Raised)WeWork Series D Pitch Deck ($355M Raised)
WeWork Series D Pitch Deck ($355M Raised)
 
Tinder Pitch Deck
Tinder Pitch DeckTinder Pitch Deck
Tinder Pitch Deck
 
Stripe Pitch Deck designed by Zlides
Stripe Pitch Deck designed by ZlidesStripe Pitch Deck designed by Zlides
Stripe Pitch Deck designed by Zlides
 
Pitch Deck Teardown: Scrintal's $1M Seed deck
Pitch Deck Teardown: Scrintal's $1M Seed deckPitch Deck Teardown: Scrintal's $1M Seed deck
Pitch Deck Teardown: Scrintal's $1M Seed deck
 
Front Series B Deck
Front Series B DeckFront Series B Deck
Front Series B Deck
 
Dropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deck
Dropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deckDropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deck
Dropbox: $15K VC investment turned into $16.8B. Dropbox's initial pitch deck
 
Pitch Deck Teardown: Northspyre's $25 million Series B deck
Pitch Deck Teardown: Northspyre's $25 million Series B deckPitch Deck Teardown: Northspyre's $25 million Series B deck
Pitch Deck Teardown: Northspyre's $25 million Series B deck
 
The investor presentation we used to raise 2 million dollars
The investor presentation we used to raise 2 million dollarsThe investor presentation we used to raise 2 million dollars
The investor presentation we used to raise 2 million dollars
 
Linkedin Series B Pitch Deck
Linkedin Series B Pitch DeckLinkedin Series B Pitch Deck
Linkedin Series B Pitch Deck
 
SEOmoz Pitch Deck July 2011
SEOmoz Pitch Deck July 2011SEOmoz Pitch Deck July 2011
SEOmoz Pitch Deck July 2011
 
Pendo Series B Investor Deck External
Pendo Series B Investor Deck ExternalPendo Series B Investor Deck External
Pendo Series B Investor Deck External
 
Intercom's first pitch deck!
Intercom's first pitch deck!Intercom's first pitch deck!
Intercom's first pitch deck!
 
Pitch Deck Teardown: Nokod Security's $8M Seed deck
Pitch Deck Teardown: Nokod Security's $8M Seed deckPitch Deck Teardown: Nokod Security's $8M Seed deck
Pitch Deck Teardown: Nokod Security's $8M Seed deck
 
Coinbase Pitch Deck designed by Zlides
Coinbase Pitch Deck designed by ZlidesCoinbase Pitch Deck designed by Zlides
Coinbase Pitch Deck designed by Zlides
 
Pitch Deck Teardown: Mint House's $35M Series B deck
Pitch Deck Teardown: Mint House's $35M Series B deckPitch Deck Teardown: Mint House's $35M Series B deck
Pitch Deck Teardown: Mint House's $35M Series B deck
 
Simple. Friendly. Smart.
Simple. Friendly. Smart. Simple. Friendly. Smart.
Simple. Friendly. Smart.
 
The deck we used to raise $270k for our startup Castle
The deck we used to raise $270k for our startup CastleThe deck we used to raise $270k for our startup Castle
The deck we used to raise $270k for our startup Castle
 

Viewers also liked

AirBnB Pitch Deck
AirBnB Pitch Deck AirBnB Pitch Deck
AirBnB Pitch Deck
Malcolm Lewis
 
Tealet - DRINK THE TEA
Tealet - DRINK THE TEATealet - DRINK THE TEA
Tealet - DRINK THE TEA
500 Startups
 
Farmeron
FarmeronFarmeron
Farmeron
500 Startups
 
Kickfolio - 500Startups Batch 5
Kickfolio - 500Startups Batch 5Kickfolio - 500Startups Batch 5
Kickfolio - 500Startups Batch 5
500 Startups
 
BrandBoards demo day pitch deck
BrandBoards demo day pitch deckBrandBoards demo day pitch deck
BrandBoards demo day pitch deck
500 Startups
 
Binpress
BinpressBinpress
Binpress
500 Startups
 
500’s Demo Day Batch 12 >> Alfred
500’s Demo Day Batch 12 >> Alfred500’s Demo Day Batch 12 >> Alfred
500’s Demo Day Batch 12 >> Alfred
500 Startups
 
Sverve
SverveSverve
Sverve
500 Startups
 
Standard Treasury Series A Pitch Deck
Standard Treasury Series A Pitch DeckStandard Treasury Series A Pitch Deck
Standard Treasury Series A Pitch Deck
Zachary Townsend
 
PinMyPet
PinMyPetPinMyPet
PinMyPet
500 Startups
 
500’s Demo Day Batch 11 >> Slidebean
500’s Demo Day Batch 11 >> Slidebean 500’s Demo Day Batch 11 >> Slidebean
500’s Demo Day Batch 11 >> Slidebean
500 Startups
 
Kibin
Kibin Kibin
Kibin
500 Startups
 
task.ly pitch deck
task.ly pitch decktask.ly pitch deck
task.ly pitch deck
Dmitry Gorshkov
 
TouristEye - Personalizing The Travel Experience - 500 Startups
TouristEye - Personalizing The Travel Experience - 500 StartupsTouristEye - Personalizing The Travel Experience - 500 Startups
TouristEye - Personalizing The Travel Experience - 500 Startups
500 Startups
 
Daily hundred Pitch Deck 2014
Daily hundred Pitch Deck 2014Daily hundred Pitch Deck 2014
Daily hundred Pitch Deck 2014
Southeast Spine, LLC
 
Pitch deck for Kejahunt
Pitch deck for KejahuntPitch deck for Kejahunt
Pitch deck for Kejahunt
Joshua Mutua
 
Dwolla Startup Pitch Deck
Dwolla Startup Pitch DeckDwolla Startup Pitch Deck
Dwolla Startup Pitch Deck
Joseph Hsieh
 
Manpacks
ManpacksManpacks
Manpacks
500 Startups
 
Mattermark 2nd (Final) Series A Deck
Mattermark 2nd (Final) Series A DeckMattermark 2nd (Final) Series A Deck
Mattermark 2nd (Final) Series A Deck
Danielle Morrill
 

Viewers also liked (19)

AirBnB Pitch Deck
AirBnB Pitch Deck AirBnB Pitch Deck
AirBnB Pitch Deck
 
Tealet - DRINK THE TEA
Tealet - DRINK THE TEATealet - DRINK THE TEA
Tealet - DRINK THE TEA
 
Farmeron
FarmeronFarmeron
Farmeron
 
Kickfolio - 500Startups Batch 5
Kickfolio - 500Startups Batch 5Kickfolio - 500Startups Batch 5
Kickfolio - 500Startups Batch 5
 
BrandBoards demo day pitch deck
BrandBoards demo day pitch deckBrandBoards demo day pitch deck
BrandBoards demo day pitch deck
 
Binpress
BinpressBinpress
Binpress
 
500’s Demo Day Batch 12 >> Alfred
500’s Demo Day Batch 12 >> Alfred500’s Demo Day Batch 12 >> Alfred
500’s Demo Day Batch 12 >> Alfred
 
Sverve
SverveSverve
Sverve
 
Standard Treasury Series A Pitch Deck
Standard Treasury Series A Pitch DeckStandard Treasury Series A Pitch Deck
Standard Treasury Series A Pitch Deck
 
PinMyPet
PinMyPetPinMyPet
PinMyPet
 
500’s Demo Day Batch 11 >> Slidebean
500’s Demo Day Batch 11 >> Slidebean 500’s Demo Day Batch 11 >> Slidebean
500’s Demo Day Batch 11 >> Slidebean
 
Kibin
Kibin Kibin
Kibin
 
task.ly pitch deck
task.ly pitch decktask.ly pitch deck
task.ly pitch deck
 
TouristEye - Personalizing The Travel Experience - 500 Startups
TouristEye - Personalizing The Travel Experience - 500 StartupsTouristEye - Personalizing The Travel Experience - 500 Startups
TouristEye - Personalizing The Travel Experience - 500 Startups
 
Daily hundred Pitch Deck 2014
Daily hundred Pitch Deck 2014Daily hundred Pitch Deck 2014
Daily hundred Pitch Deck 2014
 
Pitch deck for Kejahunt
Pitch deck for KejahuntPitch deck for Kejahunt
Pitch deck for Kejahunt
 
Dwolla Startup Pitch Deck
Dwolla Startup Pitch DeckDwolla Startup Pitch Deck
Dwolla Startup Pitch Deck
 
Manpacks
ManpacksManpacks
Manpacks
 
Mattermark 2nd (Final) Series A Deck
Mattermark 2nd (Final) Series A DeckMattermark 2nd (Final) Series A Deck
Mattermark 2nd (Final) Series A Deck
 

Similar to Square pitch deck

CeBIT Lab Talk, 8 March 2013
CeBIT Lab Talk, 8 March 2013CeBIT Lab Talk, 8 March 2013
CeBIT Lab Talk, 8 March 2013
payworks GmbH
 
Square
SquareSquare
Square
Team2080
 
Square: $10M VC investment turned into $40B. Square's initial pitch deck
Square: $10M VC investment turned into $40B. Square's initial pitch deckSquare: $10M VC investment turned into $40B. Square's initial pitch deck
Square: $10M VC investment turned into $40B. Square's initial pitch deck
AA BB
 
Square Pitch Deck
Square Pitch DeckSquare Pitch Deck
Square Pitch Deck
Chris Ellis
 
Square Slide Deck (Startup Deck)
Square Slide Deck (Startup Deck)Square Slide Deck (Startup Deck)
Square Slide Deck (Startup Deck)
Alex Gorski
 
JZ Deck
JZ DeckJZ Deck
JZ Deck
jzdemo
 
Egk 2012 kifya
Egk 2012   kifyaEgk 2012   kifya
Egk 2012 kifya
icebauhaus
 
Square Pitch Deck
Square Pitch DeckSquare Pitch Deck
Square Pitch Deck
Aayush Agrawal
 
Tnooz-WEX webinar - ePayments in travel
Tnooz-WEX webinar - ePayments in travelTnooz-WEX webinar - ePayments in travel
Tnooz-WEX webinar - ePayments in travel
Kevin May
 
Neu pai mobile pay 2011
Neu pai mobile pay 2011Neu pai mobile pay 2011
Neu pai mobile pay 2011
Dion Lisle
 
[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
WSO2
 
[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
WSO2
 
The 10 most trusted authentication solution providers of 2021
The 10 most trusted authentication solution providers of 2021The 10 most trusted authentication solution providers of 2021
The 10 most trusted authentication solution providers of 2021
CIO Look Magazine
 
Rise of India's Digital Consumer_2012 Comscore report
Rise of India's Digital Consumer_2012 Comscore reportRise of India's Digital Consumer_2012 Comscore report
Rise of India's Digital Consumer_2012 Comscore report
Karan Bhujbal
 
Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...
Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...
Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...
NAFCU Services Corporation
 
Vitoto Pitch Deck
Vitoto Pitch DeckVitoto Pitch Deck
Vitoto Pitch Deck
vinayp10
 
Siebel to Salesforce
Siebel to Salesforce Siebel to Salesforce
Siebel to Salesforce
Pactera_US
 
OMate - 2012 Entourage Pitch
OMate - 2012 Entourage PitchOMate - 2012 Entourage Pitch
OMate - 2012 Entourage Pitch
Kevin Chin
 
Rubik Financial - Introduction- March 2012
Rubik Financial - Introduction- March 2012Rubik Financial - Introduction- March 2012
Rubik Financial - Introduction- March 2012
Shelf Companies Aust
 
Bango presentation at 'Mobile Money', 17 April 2012
Bango presentation at 'Mobile Money', 17 April 2012Bango presentation at 'Mobile Money', 17 April 2012
Bango presentation at 'Mobile Money', 17 April 2012
Bango
 

Similar to Square pitch deck (20)

CeBIT Lab Talk, 8 March 2013
CeBIT Lab Talk, 8 March 2013CeBIT Lab Talk, 8 March 2013
CeBIT Lab Talk, 8 March 2013
 
Square
SquareSquare
Square
 
Square: $10M VC investment turned into $40B. Square's initial pitch deck
Square: $10M VC investment turned into $40B. Square's initial pitch deckSquare: $10M VC investment turned into $40B. Square's initial pitch deck
Square: $10M VC investment turned into $40B. Square's initial pitch deck
 
Square Pitch Deck
Square Pitch DeckSquare Pitch Deck
Square Pitch Deck
 
Square Slide Deck (Startup Deck)
Square Slide Deck (Startup Deck)Square Slide Deck (Startup Deck)
Square Slide Deck (Startup Deck)
 
JZ Deck
JZ DeckJZ Deck
JZ Deck
 
Egk 2012 kifya
Egk 2012   kifyaEgk 2012   kifya
Egk 2012 kifya
 
Square Pitch Deck
Square Pitch DeckSquare Pitch Deck
Square Pitch Deck
 
Tnooz-WEX webinar - ePayments in travel
Tnooz-WEX webinar - ePayments in travelTnooz-WEX webinar - ePayments in travel
Tnooz-WEX webinar - ePayments in travel
 
Neu pai mobile pay 2011
Neu pai mobile pay 2011Neu pai mobile pay 2011
Neu pai mobile pay 2011
 
[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit APAC 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
 
[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
[WSO2 Summit EMEA 2020] Fintech Ecosystems & Consumer Experiences: The Next G...
 
The 10 most trusted authentication solution providers of 2021
The 10 most trusted authentication solution providers of 2021The 10 most trusted authentication solution providers of 2021
The 10 most trusted authentication solution providers of 2021
 
Rise of India's Digital Consumer_2012 Comscore report
Rise of India's Digital Consumer_2012 Comscore reportRise of India's Digital Consumer_2012 Comscore report
Rise of India's Digital Consumer_2012 Comscore report
 
Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...
Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...
Capitalizing on Market Changes to Grow Your Card Programs (Credit Union Confe...
 
Vitoto Pitch Deck
Vitoto Pitch DeckVitoto Pitch Deck
Vitoto Pitch Deck
 
Siebel to Salesforce
Siebel to Salesforce Siebel to Salesforce
Siebel to Salesforce
 
OMate - 2012 Entourage Pitch
OMate - 2012 Entourage PitchOMate - 2012 Entourage Pitch
OMate - 2012 Entourage Pitch
 
Rubik Financial - Introduction- March 2012
Rubik Financial - Introduction- March 2012Rubik Financial - Introduction- March 2012
Rubik Financial - Introduction- March 2012
 
Bango presentation at 'Mobile Money', 17 April 2012
Bango presentation at 'Mobile Money', 17 April 2012Bango presentation at 'Mobile Money', 17 April 2012
Bango presentation at 'Mobile Money', 17 April 2012
 

Recently uploaded

The Death of Slim Shady HatThe Death of Slim Shady Hat
The Death of Slim Shady HatThe Death of Slim Shady HatThe Death of Slim Shady HatThe Death of Slim Shady Hat
The Death of Slim Shady HatThe Death of Slim Shady Hat
TeeFusion
 
Geometric dimensioning & tolerance for precise manufacturing process
Geometric dimensioning & tolerance for precise manufacturing processGeometric dimensioning & tolerance for precise manufacturing process
Geometric dimensioning & tolerance for precise manufacturing process
vicky196116
 
Business Roadmap Infographic Blue variant.pptx
Business Roadmap Infographic Blue variant.pptxBusiness Roadmap Infographic Blue variant.pptx
Business Roadmap Infographic Blue variant.pptx
davidsaputra50
 
Beyond Creativity: Deuglo’s UI UX Design Company in Noida, UP
Beyond Creativity: Deuglo’s UI UX Design Company in Noida, UPBeyond Creativity: Deuglo’s UI UX Design Company in Noida, UP
Beyond Creativity: Deuglo’s UI UX Design Company in Noida, UP
Deuglo Infosystem Pvt Ltd
 
Vista Blinds Catalogue Brochure by Vista Fashions
Vista Blinds Catalogue Brochure by Vista FashionsVista Blinds Catalogue Brochure by Vista Fashions
Vista Blinds Catalogue Brochure by Vista Fashions
Vista Fashions
 
High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...
High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...
High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...
gragkhusi
 
ecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdf
ecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdfecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdf
ecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdf
MojtabaMeghdari
 
Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...
Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...
Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...
miss ekta$A17
 
Otago degree offer diploma Transcript
Otago degree offer diploma TranscriptOtago degree offer diploma Transcript
Otago degree offer diploma Transcript
asazt
 
FURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDE
FURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDEFURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDE
FURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDE
FURI88 ONLINE
 
100 FPO Overview & concept (1).pptx nigga
100 FPO Overview & concept (1).pptx nigga100 FPO Overview & concept (1).pptx nigga
100 FPO Overview & concept (1).pptx nigga
AvtaritTripathi
 
Ghhhhhgggfffgggghhjjhytrrffffggggggggggggg
GhhhhhgggfffgggghhjjhytrrffffgggggggggggggGhhhhhgggfffgggghhjjhytrrffffggggggggggggg
Ghhhhhgggfffgggghhjjhytrrffffggggggggggggg
LaraibIrshad8
 
The built environment plays a crucial role in shaping a child's visual identity.
The built environment plays a crucial role in shaping a child's visual identity.The built environment plays a crucial role in shaping a child's visual identity.
The built environment plays a crucial role in shaping a child's visual identity.
Mostafa Abd Elrahman
 
UCSF degree offer diploma Transcript
UCSF degree offer diploma TranscriptUCSF degree offer diploma Transcript
UCSF degree offer diploma Transcript
ymeada
 
University of Waterloo diploma
University of Waterloo diplomaUniversity of Waterloo diploma
University of Waterloo diploma
eacwpay
 
Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...
Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...
Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...
kimmi singla$A17
 
Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...
Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...
Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...
tanupasswan6
 
Elevate Your Interiors: Danielle Ferrazzano's Essential Design Tips
Elevate Your Interiors: Danielle Ferrazzano's Essential Design TipsElevate Your Interiors: Danielle Ferrazzano's Essential Design Tips
Elevate Your Interiors: Danielle Ferrazzano's Essential Design Tips
danielleferrazzanous
 
20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf
20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf
20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf
MojtabaMeghdari
 
Enemy Encounter Standards for Hogwarts Legacy
Enemy Encounter Standards for Hogwarts LegacyEnemy Encounter Standards for Hogwarts Legacy
Enemy Encounter Standards for Hogwarts Legacy
AidanOKeefe2
 

Recently uploaded (20)

The Death of Slim Shady HatThe Death of Slim Shady Hat
The Death of Slim Shady HatThe Death of Slim Shady HatThe Death of Slim Shady HatThe Death of Slim Shady Hat
The Death of Slim Shady HatThe Death of Slim Shady Hat
 
Geometric dimensioning & tolerance for precise manufacturing process
Geometric dimensioning & tolerance for precise manufacturing processGeometric dimensioning & tolerance for precise manufacturing process
Geometric dimensioning & tolerance for precise manufacturing process
 
Business Roadmap Infographic Blue variant.pptx
Business Roadmap Infographic Blue variant.pptxBusiness Roadmap Infographic Blue variant.pptx
Business Roadmap Infographic Blue variant.pptx
 
Beyond Creativity: Deuglo’s UI UX Design Company in Noida, UP
Beyond Creativity: Deuglo’s UI UX Design Company in Noida, UPBeyond Creativity: Deuglo’s UI UX Design Company in Noida, UP
Beyond Creativity: Deuglo’s UI UX Design Company in Noida, UP
 
Vista Blinds Catalogue Brochure by Vista Fashions
Vista Blinds Catalogue Brochure by Vista FashionsVista Blinds Catalogue Brochure by Vista Fashions
Vista Blinds Catalogue Brochure by Vista Fashions
 
High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...
High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...
High Girls Call Ranchi 000XX00000 Provide Best And Top Girl Service And No1 i...
 
ecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdf
ecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdfecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdf
ecc3d98e-fb3b-4fe4-a6ff-fbd8d2a86392.pdf
 
Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...
Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...
Premium Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service A...
 
Otago degree offer diploma Transcript
Otago degree offer diploma TranscriptOtago degree offer diploma Transcript
Otago degree offer diploma Transcript
 
FURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDE
FURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDEFURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDE
FURI88 : Situs Slot RECE Menang paling GEDE jamin pasti WEDE
 
100 FPO Overview & concept (1).pptx nigga
100 FPO Overview & concept (1).pptx nigga100 FPO Overview & concept (1).pptx nigga
100 FPO Overview & concept (1).pptx nigga
 
Ghhhhhgggfffgggghhjjhytrrffffggggggggggggg
GhhhhhgggfffgggghhjjhytrrffffgggggggggggggGhhhhhgggfffgggghhjjhytrrffffggggggggggggg
Ghhhhhgggfffgggghhjjhytrrffffggggggggggggg
 
The built environment plays a crucial role in shaping a child's visual identity.
The built environment plays a crucial role in shaping a child's visual identity.The built environment plays a crucial role in shaping a child's visual identity.
The built environment plays a crucial role in shaping a child's visual identity.
 
UCSF degree offer diploma Transcript
UCSF degree offer diploma TranscriptUCSF degree offer diploma Transcript
UCSF degree offer diploma Transcript
 
University of Waterloo diploma
University of Waterloo diplomaUniversity of Waterloo diploma
University of Waterloo diploma
 
Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...
Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...
Private Girls Call Delhi 🛵🚡9711199171 💃 Choose Best And Top Girl Service And ...
 
Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...
Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...
Female Girls Call Delhi 🎈🔥9711199171 🔥💋🎈 Provide Best And Top Girl Service An...
 
Elevate Your Interiors: Danielle Ferrazzano's Essential Design Tips
Elevate Your Interiors: Danielle Ferrazzano's Essential Design TipsElevate Your Interiors: Danielle Ferrazzano's Essential Design Tips
Elevate Your Interiors: Danielle Ferrazzano's Essential Design Tips
 
20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf
20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf
20221013093917796jhhhjjjhbvhfgfgfgfg58.pdf
 
Enemy Encounter Standards for Hogwarts Legacy
Enemy Encounter Standards for Hogwarts LegacyEnemy Encounter Standards for Hogwarts Legacy
Enemy Encounter Standards for Hogwarts Legacy
 

Square pitch deck

  • 1. The Simplest Way to Make Money Elizabeth Cheng | Jing-Jing Li | Irwin Liu | Jessica Lukrich
  • 2. The Square Proposition Simple pricing: Huge market Inspiring and 2.75% 2 75% per swipe opportunity experienced in mobile management payments team Zero friction: no commitment and daily deposit High future Solid S lid valuation business and ROI model with Free iPhone, iPad, even with high revenue Android app and later stage g generation ca d eade card reader investment Defensible business and strong The simplest way execution to make money strategy 1
  • 3. Management Team The team has the background, proven track record and vision to succeed Jack Dorsey – Co-Founder, CEO Successfully Managing  Co-Founder, Chairman of Twitter  Advisor at Ustream Keith Rabois – COO  VP of Strategy & Business f St t B i Development for Slide  VP of Business & Corporate Development at LinkedIn  EVP of Business Development and fB i D l t d Policy for PayPal Bob Lee – CTO  Founder at Twubble  Software Engineer at Google Other Key Advisors Gideon Yu Roelof Botha Jim McKelvey – Co-Founder Ryan Gilbert  Owner at Mira Alyssa Milano  Co-founder at Third Degree Glass Greg Kidd Factory Andrew Rasiej 2
  • 4. The Market Mobile payments is a massive, rapidly growing but underpenetrated industry $250 $214 CAGR ‘10 – ’14: 68% $200 $162 $150 $119 $ $100 $81 $46 $50 $16 $0 2010 2011 2012 2013 2014 2015 Dollar Amount of Mobile Payments In The U.S. (billions)* Opportunity Market Changes Square Positioning  Traditional card readers  Rapidly burgeoning interest  First mover advantage are unwieldy & expensive in mobile payments  Scalable across  Difficult for small business  NFC tech adoption but multiple platforms owners to use card services credit card usage prevails  Low costs address  Alternative online services  Capturing a loyal user base target customer needs are expensive has huge revenue potential *Source: Aite Group 3
  • 5. The Product Square satisfies buyers and vendors through an easy‐to‐adopt platform Consumer Desires Designate amount  Use credit cards  Swipe and go Vendor Desires e do es es Swipe credit card  Accept credit cards  Save on processing fees Enter tip and sign  Simple and intuitive with finger on-screen interface Transaction completed The Technology Transaction Magnetic reader that plugs into headphone jack of smartphone Data Conversion Once card is swiped, data is converted into an audio signal Information Processing Processors route signal to Square software application Transmission Encrypted data sent through Wi-Fi or 3G to back-end servers Communication No info stored on devices, auto-communication with payment network 4
  • 6. Value to User Square offers the simplest and most compelling way to accept credit cards Traditional Card Online Card Processing Firms Processing Ease of Tied to computer; Scan and go; Requires some training; Use Manual input Intuitive interface Problems require technician of card information E Expensive reader; Costs Free card reader; Up to 5% variable + 30¢ flat rate; Up to 3.5% variable rate Flat 2 75% fee 2.75% Expensive upda e a d pe s e update and + 30¢ flat rate a ae C maintenance fees Saves money; nefits Cheaper than traditional; Saves time; Familiar to user; Only requires computer and Accessible across Technical support Ben internet multiple devices 5
  • 7. Customer Acquisition Through wide exposure, Square targets anyone that seeks easy payment Target Customer  Small businesses, independent workers, individuals selling goods  Market: anyone who accepts payments SSquare’s C t gaining customer awareness + free card reader ’ Cost: i i t f d d Selling Points Advertisement Retail  Easy convenient  Social media and  Selling through everyday usage internet advertising g online registration g  No surprise fees  Traditional and Apple stores  Adaptable across mediums with max  Follows razor blade multiple devices exposure/min cost retail model Acquiring 100,000+ customers per month 6
  • 8. Competition and Defensibility Its established  presence and niche market give Square a competitive edge Square Characteristics Advantages Direct Competitors:  Similar technology gy  Established clientele GoPayment, PAYware application as first mover  Higher fees and rates  No credit check for certain options  No monthly fees  Intuit or VeriFone  Device compatibility service support  Apple partnership Emerging Market:  Built-in hardware for Built in  POS experience Near Field N Fi ld phones  Compatible across Communications  Potentially eliminate differing hardware use of credit cards  Unique market focus  Cross interaction with  Can integrate NFC other phone apps th h technology t h l 7
  • 9. Financial Model and Projections Square will make for a lucrative investment even with conservative projections By Year End 2011E 2012E 2012E 2014E 2015E Payments Processed Per Day ($ y y ($mm) ) 1.1 7.7 23.1 41.6 49.5 Growth Rate 1000% 600% 200% 80% 19% Annual Revenue $ 10.59 $ 74.11 $ 222.34 $ 400.21 $ 476.25 EBITDA 0.53 4.45 20.01 44.02 52.39 g EBITDA Margin 5% 6% 9% 11% 11% EBIT 0.32 2.96 13.34 28.01 33.34 EBIT Margin 3% 4% 6% 7% 7% $120 Assumptions p $100 • Investment: $20m $80 • Stake: 20% $60 • Hurdle Rate: 15% $40 $20 $- IRR of 55% 2011E 2012E 2013E 2014E 2015E • Sale or IPO at 2.5x Best Base Worst 2015 Revenue 8
  • 10. Why Invest Now Additional investment will generate outsize returns due to growth prospects  Need for Additional Investment High Potential for Growth Additional resources Potential for growth will needed to maintain allow new investors to first mover advantage see an outsized return Competitive pressures Customer adoption will increasing scale up exponentially Expected spe d in pec ed spend The key to success will y advertising and be in locking in a loyal customer acquisition customer base early * Additional $27.5 capital from Sequoia and $20.0 new investor $ $10.0 co so u consortium Proposed Series A Series B Series C 9
  • 11. Exit Strategies Square will have multiple exit opportunities that will result in a high ROI Highly Viable M&A Prospects IPO Considerations  Depends on user base  Multiple buyers possible  competitive bidding expansion success and  Valuable user base with recurring revenue stream consideration of M&A  Clear fit into product portfolios  High standalone potential Large Companies Competing in Potential Valuation Mobile Space Service Providers 2 $700mm-$1.4bn Rev and Hardware Manufacturers EBITDA $450mm- 1 $800mm $800 Payment Processors $400 0 $700 500 $1000 1000 $1300 $1600 1500 2000 ($mm) 10
  • 12. Appendix Index of Presentation and Appendix Slides Presentation Slides Appendix S des ppe d Slides 1. The Square Proposition • Financial Assumptions 2. Management Team • Financial Model 3. h 3 The Market k t • Assumptions from A ti f 4. The Product Comparables 5. Value to User • Future Valuation Perspective 6. Customer Acquisition • Concerns and Responses C dR 7. Competition and • Partnerships Defensibility • Company Vision 8. Financial Model and • Market Analysis Projections 9. Why Invest Now 10. Exit Strategies
  • 13. Financial Assumptions Growth expected to scale exponentially and valuation will increase M D Growth Assumptions  Expected to process $40 million in transactions in Q1 of 2011 O R  Currently signing up 100,000 merchants per month y g g p , p  Compare to 30,000 monthly signups last Fall. D I  $1 million in payments per day  Processing a few million in mobile transactions per week as of last fall E V L E Valuation Assumptions  Valued at $240m after last round of funding in January 2011 ($27.5m) g ( ) R  Valued at $40m at first round of funding in December 2009 ($10.0m) S Sources  DealBook, TechCrunch, Wall Street Journal, VentureBeat, Capital IQ
  • 14. Financial Model By Year End By Year End 2011E 2011E 2012E 2012E 2012E 2013E 2014E 2014E 2015E 2015E Payments Processed Per Day y ( ) ) Payments Processed Per Day ($mm) yy y ($ ($mm) 1.1 1.1 7.7 7.7 23.1 23.1 41.6 41.58 49.5 49.4802 Growth Rate Growth Rate 1000% 1000% 600% 600% 200% 200% 80% 80% 19% 19% Annual Revenue Annual Revenue $ 10.59 $ $ 10.59 $ 74.11 $ 222.34 $ 400.21 $ 476.25 74.11 $ 222.34 $ 400.21 $ 476.25 EBITDA Margin EBITDA 5% 0.53 6% 4.45 9% 20.01 11% 44.02 11% 52.39 EBITDA Margin EBITDA $ 0.53 $ 5% 4.45 $ 6% 20.01 $ 9% 44.02 $ 11% 52.39 11% EBIT Margin EBIT a g 0 3% 0.32 32 4% % 2.96 2 96 6% 13.34 13 34 7% 28.01 28 01 33 7% 33.34 34 EBIT $ 0.32 $ 2.59 $ 13.34 $ 29.22 $ 34.77 EBIT Margin 3% 4% 6% 7% 7% Growth Assumptions 2011E 2012E 2013E 2014E 2015E Best Case 1000% 800% 400% 100% 50% Base Case 1000% 600% 200% 80% 19% Worst Case 1000% 200% 100% 20% 5% EBIT 2011E 2012E 2013E 2014E 2015E Best $ 0.32 $ 3.34 $ 28.59 $ 69.56 $ 104.34 Base $ 0.32 0 32 $ 2.59 2 59 $ 13.34 13 34 $ 29.22 29 22 $ 34.77 34 77 Worst $ 0.32 $ 1.11 $ 3.81 $ 5.56 $ 5.84 NPV & IRR Calculation 2011E 2012E 2013E 2014E 2015E Sale $ (20.00) (20 00) $ 0.06 0 06 $ 0.52 0 52 $ 2.67 2 67 $ 5.84 5 84 $ 6.95 6 95 $ 238.12 238 12 NPV @ 15% $ 79.95 IRR 55% * represents 20% stake
  • 15. Assumptions from Comparables Margin projections derived from median of comparable companies Company Name LTM Gross LTM EBITDA LTM EBIT LTM Net LTM Total Margin % Margin % Margin % Income Revenues, 1 Yr Margin % Growth % Ebay Inc. 72.0% 31.0% 22.7% 19.7% 4.9% Gerber Scientific Inc. 30.7% 4.5% 2.9% (3.0%) 21.0% Iltron Inc Inc. 30.9% 30 9% 14.0% 14 0% 8.2% 8 2% 4.6% 4 6% 33.9% 33 9% Iteris Inc. 43.5% 8.3% 6.4% (8.3%) (1.2%) Mastercard Incorporated 100.0% 53.3% 50.7% 33.3% 8.6% PAR Technology Corp. 26.1% 2.7% 1.6% 1.3% 7.6% Perceptron Inc. 37.3% 0.8% (1.0%) 1.9% 30.4% VeriFone Systems Inc Inc. 37.7% 37 7% 14.8% 14 8% 11.3% 11 3% 11.3% 11 3% 24.3% 24 3% Veritec Inc. 60.8% (64.2%) (67.8%) (86.5%) 108.0% Visa Incorporated 84.4% 60.0% 56.8% 37.0% 17.0% Summary Statistics LTM Gross LTM EBITDA LTM EBIT LTM Net LTM Total Margin % M i Margin % M i Margin % M i Income R I Revenues, 1 Y Yr Margin % Growth % High 100.0% 60.0% 56.8% 37.0% 108.0% Low 26.1% (64.2%) (67.8%) (86.5%) (1.2%) Mean 52.3% 12.5% 9.2% 1.1% 25.5% Median 40.6% 11.2% 7.3% 3.3% 19.0%
  • 16. Future Valuation Perspective Square’s valuation would price at premium to multiples due to early stage Company Name TEV/Total TEV/EBITDA LTM TEV/EBIT LTM - NTM NTM NTM Forward Revenues LTM - - Latest Latest TEV/Forward TEV/Forward P/E Latest Total Revenue EBITDA Ebay Inc. 3.83x 12.34x 16.88x 3.3x 9.4x 15.9x Gerber Scientific I G b S i tifi Inc. 0.49x 0 49 10.95x 10 95 16.80x 16 80 0.5x 05 7.9x 79 21.9x 21 9 Iltron Inc. 0.71x 8.55x 11.10x 0.7x 6.3x 16.5x Iteris Inc. 1.18x 8.47x 14.51x 1.2x 7.7x 13.0x Mastercard Incorporated 5.46x 10.23x 10.77x 4.9x 9.0x 15.8x PAR Technology Corp. 0.29x 10.73x 17.98x 0.3x 7.9x 23.7x Perceptron Inc Inc. 0.53x 0 53x 67.04x 67 04x NM 0.5x 0 5x 9.7x 9 7x 37.3x 37 3x VeriFone Systems Inc. 4.49x 30.27x 39.89x 4.0x 19.3x 29.6x Veritec Inc. 4.03x NM NM - - - Visa Incorporated 6.12x 10.21x 10.80x 5.5x 8.6x 15.3x Summary Statistics y TEV/Total TEV/EBITDA LTM / / TEV/EBIT LTM - / NTM NTM NTM Forward Revenues LTM - - Latest Latest TEV/Forward TEV/Forward P/E Latest Total Revenue EBITDA High 6.12x 67.04x 39.89x 5.5x 19.3x 37.3x Low 0.29x 8.47x 10.77x 0.3x 6.3x 13.0x Mean 2.71x 2 71x 18.75x 18 75x 17.34x 17 34x 2.3x 2 3x 9.5x 9 5x 21.0x 21 0x Median 2.51x 10.73x 15.66x 1.2x 8.6x 16.5x
  • 17. Concerns and Responses Concern Response Credit cards too engrained in NFC will overtake credit daily life to become outdated card use in the near future Large companies will Square has a different leverage ability to target audience and has provide at lower prices the first mover advantage Consumer concerns over Partner bank verifies service security on a newly and secure server makes introduced platform security claims unfounded Square has a successfully run Square will face and experienced execution risks management team Flexibility of the industry No defining industry standard promotes innovation; a standard will soon be reached
  • 19. Company Vision Square: 0 to $60 in under 10 seconds Target consumers are Free app for iPhone, small business iPad Android iP d & A d id Daily deposit to your bank account Simple pricing, free shipping Vision is to create zero friction and complexity around payments The simplest way to Emphasis on simplicity & efficiency make money
  • 20. Market Analysis Strong market growth and advantageous company position Market Position Expanding & First Mover Advantage High growth unsaturated Few comparable potential marketplace competitors Currently underfunded Large Competitors Small Competitors Competitors Ie. Google, Apple Ie. VeriFone, Intuit Not focused enough to drive Square out of its Lack first mover niche market advantage