VeriFone CEO Likens Square to Pets.com Following Funding
25 July 2012
When asked to comment on Square’s latest round of funding — an estimated $200 million in backing, based on a valuation of $3.25 billion — VeriFone CEO Doug Bergeron was brief.
“Pets.com,” was all Bergeron had to say, according to American Banker.
The report estimates that Square’s sales are about one tenth those of VeriFone’s, and that profits have not yet materialized for the mobile payment acceptance company.
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