Rumor Watch: Square Will IPO In Q4

In the latest on again/off again Square-as-an-IPO guessing game, here’s the news: It looks like it’s on again — at least for now.

The mobile payments company is planning to launch shares on the open market during the fourth quarter of this year as part of an initial public offering, Bloomberg reported Thursday (Sept. 10), according to unnamed people with knowledge of the plan.

And one caveat: The timing of that debut will be tied to “market conditions,” Bloomberg stated, with the IPO telegraphed by a confidential filing with the Securities and Exchange Commission in July of this year. The company has been rumored to be working with Goldman Sachs, JPMorgan and Morgan Stanley.

If Square does indeed go ahead with the IPO, it would do so as Twitter’s board is mulling over the continued tenure of Jack Dorsey as chief executive officer — which for Twitter would mean backtracking on a pledge to hire a “full-time” leader, as Dorsey currently has the CEO job at Square.

[bctt tweet=”In the latest on again/off again Square-as-an-IPO guessing game, here’s the news: It looks like it’s on again — at least for now.”]

The unnamed sources said that the IPO would be more determined by the stock market than by Dorsey’s role, Bloomberg said. And noting the other looming IPOs in tech land, Bloomberg reported that firms, such as First Data, are continuing to march toward public offerings, with that company seeking to raise as much as $2.5 billion from investors. And should Dorsey in fact leave Square for the Twitter post, the aforementioned bankers would likely make the argument that the company is strong enough to sally forth into the markets without him. Square last year processed more than $30 billion in payments through its readers and from its merchant customers, who number in the millions. The company is also looking to push over in the near term into new areas, such as business lending and payroll processing.

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