Square Inc. Files For $275 Mln IPO - Quick Facts

(RTTNews) - Square, Inc., the company founded by Twitter, Inc. (TWTR) CEO Jack Dorsey, has filed with the U.S. Securities and Exchange Commission for an initial public offering of up to $275 million of its Class A common stock.

The San Francisco, California-based company intends to apply to list its Class A common stock on the New York Stock Exchange under the symbol "SQ." Square, which was founded in February 2009, enables anyone with a mobile device to accept card payments, anywhere, anytime.

According to the filing, shares being made available for directed share program are being sold by the Start Small Foundation, a charitable vehicle started by its CEO and founder, Jack Dorsey, as the selling stockholder.

Square has incurred a net loss of $154.09 million for the year ended December 31, 2014 and had total net revenue of $850.19 million. For the six months ended June 30, 2015, the company generated a net loss of $77.6 million.

Square stated in the filing that Dorsey is committed to his CEO roles at both Square and Twitter, and will be dividing his time, attention, and efforts between the two companies.