Square, the payments startup last valued at $US6 billion, may file its paperworks to go public within the next two weeks, Fortune reported Friday.
That means it will file an S-1, which contains all kinds of financial information of the company, giving the public a chance to see previously unavailable information for the first time.
The report said Goldman Sachs will lead the process, with Morgan Stanley and JPMorgan Chase also joining as underwriters. Square’s last VC round came in October 2014, and has raised a total of $US590.5 million, according to Crunchbase.
Filing an S1 doesn’t mean an IPO is imminent. Companies like Twitter went public almost within a month, while Box took almost a year to finally IPO earlier this year, and Good Technology filed but never went public — it was acquired by BlackBerry instead.
If Square goes public, this also raises the stakes for Twitter’s board on that company’s CEO search. Right now, Square CEO Jack Dorsey is also interim CEO at Twitter (he founded both companies). Twitter’s board has said they want a full-time CEO. If Dorsey has to oversee Square’s roadshow and IPO process, he won’t have much time for Twitter.
Sqaure wasn’t immediately available for comment.
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