Square deal puts mobile payment startup's value at $1B

06/29/2011 | Wall Street Journal, The

Startup mobile payment device maker Square has snagged $100 million in additional funding from a group led by venture capital firm Kleiner Perkins Caufield & Byers, according to a published report that says the deal will be announced today. The investment puts Square's market value at more than $1 billion as it faces competition from such major companies as Google, Intuit and eBay-owned PayPal.

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