Square files for IPO
The mobile payments company filed paperwork for an initial public offering on Wednesday. In its S-1, it said it is applying to be listed on the New York Stock Exchange under the “SQ” symbol.
Goldman Sachs (GS), JP Morgan (JPM) and Morgan Stanley (MS) are lead underwriters. The number of shares and the price range have yet to be determined.
Square launched in 2009 with the goal of allowing anyone with a mobile device to accept credit card payments. Everything from small businesses to food trucks to Starbucks (SBUX) can plug the Square Reader into a phone or tablet and it functions as a credit card processor.
Simply put, this means that you will be able to purchase stock in the company.
And if that doesn’t fill you with a sense of dread, then you’re not paying attention.