Square history

Square began in 2010 after the invention of a small credit card reader that plugged into iPhones.

In 2011, Square took its first tentative steps into the world of consumer financial apps when it unveiled Square Wallet.

Square continued to solicit venture funding throughout 2011.

But also, by 2011.. 50,000 readers are shipped across the US amounting to a vast 66 million dollars processed.

In August 2012, Square negotiated a partnership in which coffee retail giant Starbucks would use Square exclusively to process card payments in 7,000 of its locations.

In early 2013 Square drops the reveal of Square Stand, the fancy little device that turns the iPad into a complete point of sale system quick and easy

And the numbers within this wild time, you ask? By 2013, Square was processing $15 billion dollars per year.

In 2013, Square Market offered its physical sellers — including those farmers market jam and jelly makers — the chance to go “omni” and expand their reach beyond their own local communities.

In 2013, Square launched Square Cash, the firm’s P2P payments platform.

Grubhub and Seamless—both of which were owned by Aramark in 2014—had grown rapidly in key metropolitan areas across the United States, including New York City and San Francisco.

In 2014, Starbucks stopped accepting Square’s mobile wallet, and shortly thereafter, Square pulled the plug entirely on that mobile wallet experiment.

Launched in 2014 as the firm’s lending arm, Square Capital has extended over $1 billion in working capital to over 100,000 small merchants.

Well, of course, you take that thriver to Wall Street and you launch that sucker on the public market immediately! And on November 19th, 2015.

Square had grown incredibly quickly, but the company was still hemorrhaging money, posting net losses of more than $53M on revenues of $332M in Q3 of 2015.

Caviar had been operating in Dallas-Fort Worth since 2015, serving just 30 restaurants.

After many fits and starts, Square pushed into an IPO in late 2015.

2016 also saw Square expand into the Australian market, the first such expansion the company had undertaken in almost three years.

Squares EBITDA turned positive for the last 3 quarters of of 2016, with strong profit margin growth going down in the fourth quarter especially.

In the fall of 2016, Square Cash added a virtual debit account to the mix, meaning that a recipient can opt to create a virtual Visa debit card on which to apply those funds — and then spend it anywhere online that Visa is accepted.

They expanded rapidly in 2017, growing with incredible earnings, massive moves by the company, continued evolution and huge user growth.

Square went on to have a couple of cute little hiccups, mostly following the tech broader market, but for the most part: these suckers were killing it from 2017 onward and onward..

Since then, the app has seen enormous growth, jumping from 7 million to 15 million users in 2018 alone.

Square Inc. decides to buy 4,700 bitcoin with the cash on their balance sheet! By the end of 2020, Square held about 5% of their total assets in Bitcoin, and this year they bought even more.