Square announced yesterday (Sept. 23) plans to open a new office in St. Louis, Missouri, where more than 40 full-time employees will be hired immediately.
The payments service company also said it will expand the number of employees in its St. Louis office to more than 200 people over the next five years.
“St. Louis is an important part of Square’s history,” Jack Dorsey, CEO of Square, stated in a company release. “It’s an incredible city and my hometown, and we’re excited to further invest in the community. Go Cards!”
Due to the city’s budding economy and access to talent from top nearby universities, research centers, and training programs, St. Louis is considered a prime office location for Square, the company stated.
Square will also use its St. Louis location to reach sellers in the Midwest. The office will cover an array of job functions, including Compliance Operations, Customer Support, IT Tech, Recruiting and Office Experience, the statement explained.
“There’s talent all over the country, not just on the coasts,” said Jim McKelvey, co-founder of Square. “St. Louis business owners who accept payments with Square have already contributed more than $85 million to the local economy, and we’re thrilled to be even more ingrained into the fabric of the city.”
[bctt tweet=”Square opens new office in St. Louis with big plans to expand its employee base”]
As it looks to open its new office, all eyes remain on Square’s on again/off again IPO guessing game. But, as PYMNTS recently reported, all signs are pointing to the mobile payments company going public later this year.
According to unnamed people with knowledge of the plan, Square is planning to launch shares on the open market during Q4 of this year.
The timing of that debut is expected to be tied to “market conditions,” Bloomberg stated just weeks ago, 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.
To check out what else is HOT in the world of payments, click here.