Square makes footprint near Wall Street amid IPO, sale rumors

Square makes footprint near Wall Street amid IPO, sale rumors

Summary: Square is setting up shop on one of the most retail-heavy streets in Manhattan. The payments provider also plans to add more than 300 new jobs in the area.

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Square is making a major investment of its own with the opening of a new office just one mile from Wall Street.

At 375 West Broadway in New York City's SoHo district, Square is setting up shop on one of the most retail-heavy streets in Manhattan.

The location is rooted from Square's acquisition of New York design agency 80/20 in October 2012.

The timing and address of the new real estate, which will serve as much more than just a satellite sales or engineering office, is key given that Square has been surrounded by rumors pointing either toward an initial public offering this year or a sale to the likes of Google or Apple.

Founded in 2009, the San Francisco-headquartered company has blossomed to employ approximately 800 people worldwide.

Square also has offices in Atlanta, Kitchener-Waterloo, and Tokyo.

The new lower Manhattan location will accommodate at least 350 new employees, and Square boasted it is "actively" looking to hire engineers, designers, support representatives, and other business professionals.

Bolstering its portfolio for whatever the future holds, Square has been actively dabbling with new payments solutions as well as making a number of small purchases of its own here and there.

In February, Square Cash was introduced as a spinoff from the famous white dongle, serving as a new method that is simply as easy as CC'ing someone on an email.

Later that month, Square bought BookFresh, a private software company that makes apps for scheduling and managing appointments with the intent of growing businesses.

The additional line of service hinted Square is interested in providing a more well-rounded platform for small businesses and merchants far beyond just facilitating the digital exchange of money.

Along those lines, Square quietly started testing a new app called "Pickup," a service that actually refers to picking up lunch, slightly distinguishing it from the plethora of delivery services popping up via smartphones.

Topics: E-Commerce, Hardware, Start-Ups, Tech Industry, SMBs

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  • Re: Square Dongle

    I'm from Canada where if a vendor makes you swipe your card still we look at you funny. It's 95% chip and pin technology here. I'm pretty sure that's coming to the US as mandatory as well. How is Square going to handle that?
    rossdav