Dorsey and co-founder Jim McKelvey created Square, a small business platform for accepting debit and credit card payments on mobile devices, which was released in May 2010.
The small, square-shaped device connects via the headphone jack to an iPhone, iPad, iPod Touch, or Android device and, as a mini card reader, allows a person to swipe their card, select an amount to transfer to the recipient, and then sign their name for confirmation.
Square is a free app for iOS and Android that allows you to send paperless receipts via text message or email.
By June 2011, the company had grown from 10 employees in December 2009 to over 100. Square’s headquarters are located on Market Street in San Francisco.
Square Inc. was valued at US$3.2 billion by Business Insider magazine in September 2012. Dorsey is the CEO of Square, Inc. On October 14, 2015, Square filed for an IPO to be listed on the New York Stock Exchange.
As of that date, Dorsey owned 24.4 per cent of the company. Square Financial Services will be launched in 2021, according to the company’s plans.
What company does Jack Dorsey own?
Square, Inc.’s CEO is Jack Dorsey. Square filed for an initial public offering IPO to be listed on the New York Stock Exchange on October 14, 2015. Dorsey owned 24.4 per cent of the company at the time.
Square was granted permission to open a bank by the FDIC in March 2020. Square Financial Services will be launched in 2021, according to the company’s plans.