The Price of Square's Shares Have Jumped 90% In A Year

jack dorsey twitter money suitcaseSquare’s fundraising process, as we imagine it via Photoshop.

Photo: Illustration: Ellis Hamburger

We have some confirmation of the report that Square raised $200 million at a $3.2 billion valuation.On July 13, Square filed a revision to its articles of incorporation authorizing the issuance of 1,815,870 shares of Series D Preferred stock at a price of $110.14 per share, according to VCExperts.com.

That adds up to precisely $200 million—the figure that the payments startup is reportedly raising in a round led by private-equity firm Rizvi Traverse Management, also investors in Dorsey’s other company, Twitter.

VCExperts told us the previous round, which reportedly valued the company at $1.6 billion last year, was done at a price per share of $57.98. That means Square’s valuation per share is up 90 per cent. Including the new money in, once Square’s round is complete, it will be worth just over $3.2 billion.

And cofounder Jack Dorsey will be a billionaire.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.