So right now — while the company is shipping out lots of its little credit card readers, but before there’s time for any real market reaction — is the perfect time to raise a big boatload of money. (Remember, you raise money when you can, not when you need it.)
And, indeed, it sounds like Square is very open to the idea.
TechCrunch’s Leena Rao writes today, “…when we asked if here any new funding rounds in the future (Square raised $10 million From Khosla Ventures and a number of other prominent angel investors last year), [general manager Keith] Rabois didn’t really say yes or no.”
Here’s the money quote from Rabois: “We are getting an email per day from interesting investors and there are certainly lots of interesting things one could do with more capital.”
So a ~$25 million Series B for Square in the next few months wouldn’t surprise us. Especially now that it has a lengthy, glowing new post from TechCrunch to send to potential investors, to help drive up its valuation.
Here’s a video we just shot with Square CEO Jack Dorsey, who gave a live demo with our credit card, and explained how Square uses your Twitter activity as an anti-fraud measure. And don’t miss our neat graphic of the Square’s evolution since its early beta test. And, for good measure, our photo tour of Square’s headquarters in San Francisco.
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