From CNET: Mobile-payments company Square, the other firm dreamed up by Twitter co-founder Jack Dorsey, has filed confidential paperwork with the Securities and Exchange Commission to sell stock to the public, according to several major news outlets, which cited unnamed sources.
The reports add a new angle to the current situation for Dorsey and Twitter, where he's serving as interim CEO while maintaining his role as full-time head of Square.
Twitter has been on the hunt for a new full-time chief since Dick Costolo left last month. Though Dorsey's name has come up and though he's reportedly intrigued by the idea of returning full-time to the social network (where he served as head during the company's first year and a half), he has said he won't give up the post at Square. An IPO might underline that assertion -- leaving prior to an initial public offering of stock could send an awkward message to potential investors. And Twitter's board has said a new CEO would have to fully commit to the position.
Square is perhaps best known for the little white-plastic card-reader that plugs into a smartphone or tablet and enables small businesses to accept credit card payments. (Square makes money by taking a cut.) The company also makes the Square Stand, which converts an iPad into a point-of-sale system. And last month it unveiled a wireless gadget that lets merchants take Apple Pay for transactions, so customers don't need to swipe their card through a reader but can simply wave their iPhone near a pad-like scanner.
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