Mobile payments startup Square did not try to sell itself, according to one of its board members, Roelof Botha of Sequoia Capital.
At the TechCrunch Disrupt conference today, Botha said the payment company has not tried to sell itself in recent months, contrary to news reports. He also said the company is doing fine and that it did not shelve any IPO plans.
“I don’t know where this misinformation is coming from,” Botha told Michael Arrington at the on stage at Disrupt. “There was a person who compared Square and Box recently for shelving its IPO plans. Square never filed, they never made a filing public, and they never withdrew it.”
“A lot of our late stage companies are thinking, ‘Should we go public this year? Maybe not. Are there things we should invest in?’ Going public is an irreversible event,” he added.
When asked if Square was trying to sell itself, Botha replied, “Square was not trying to sell itself these past few months. There were no discussions to sell itself. None.”
Botha said the Wall Street Journal called him before it ran a story about issues within Square. Botha said he told the reporter, “Being on the board of the company, [if Square was trying to tell itself] that would be a surprise to me.”
Still, WSJ said it had sources who said otherwise and reported:
Google Inc. discussed a possible acquisition of Square earlier this year, according to three people familiar with the matter…Square also had informal discussions about a deal with Apple Inc. and eBay Inc.’s PayPal in the past, according to people familiar with those situations. Those conversations never developed into serious talks.
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