Square Inc. IPO to value company at up to $4.2 billion

Payments company Square enables card payments to be made using a dongle attached to a mobile device. | Photo courtesy of ada fruit/Flickr
Photo courtesy of ada fruit/Flickr

Mobile payments company Square Inc., founded by St. Louis natives Jack Dorsey and Jim McKelvey, said it expects its initial public offering to price at between $11 and $13 per share, valuing the company up to $4.2 billion.

The company, which expects to raise over $403.7 million, had initially set a fundraising target of $275 million when it filed for the offering on Oct. 14.

Square, founded in 2009, was valued at $6 billion after its last funding round a year ago.

Read more from the St. Louis Post-Dispatch


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