Square, a payments startup run by Twitter co-founder Jack Dorsey, could be this year’s Groupon, Facebook or Twitter.
The company is growing payments volume superfast – since March this year, payments processed per day is up 50%. (Square takes a 2.75% cut of transactions which it splits with Visa, Mastercard and the banks.)
Square has 330 employees and grew by 20% in the last two months. Where will the company be in a year’s time? A crude linear progression suggests it could top $10billion in payments by mid 2013.
Even if it does not raise any more money. Watch this space.