Square slashes share price ahead of sale
by Sam Thielman in New York from Technology | The Guardian on (#V1KC)
The mobile payment company has failed to impress investors ahead of a share sale that is a crucial test for Silicon Valley's "unicorns"
Mobile payment company Square slashed its share price on Wednesday night ahead of a sale that is casting a shadow over the new darlings of the tech sector.
The small-business-centric digital payments firm, which makes portable credit card scanners that work with smartphones, is run by Twitter co-founder and CEO Jack Dorsey. It is one of a number of so-called "unicorns" - start-up companies valued at billions of dollars that have yet to make a profit.
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