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October 29, 2015

Mobile Payment company Square gets a scare before its IPO

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Infographic: The Numbers Behind Square's Payment Business | Statista
via Statista

Jack Dorsey’s challenge to raise money for his mobile payment business just make harder.

Squares q3,2015 loss (third-quarter )was $53.9 million — the largest quarterly loss since at least the fourth quarter of 2013, which is the furthest back the company disclosed Monday in its amended regulatory filing to go public.

Square 's Q3 financials showed a $53.9 million net loss on $332.2 million in revenue. Those figures represent slower revenue growth and faster loss growth than in the year-earlier period However Square rides on a business model that seems to be Robust as it enables merchants to process card payments on smartphones and tablets, offering both the hardware and the software necessary to do so. In 2014, the company processed payments worth $23.8 billion, generating revenue of $850 million.