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Report: Mobile-payments company Square files to go public

jack dorsey
Square CEO Jack Dorsey. Bill Pugliano/Getty Images

According to Bloomberg, mobile-payments company Square is reportedly filing to go public.

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Goldman Sachs is said to be leading the IPO but Square has also reportedly hired Morgan Stanley, according to CNBC.

Last year, Square processed $30 billion in payments. Its CEO, Jack Dorsey, also took on the role of interim Twitter CEO earlier this month when Dick Costolo stepped down.

In total, the company has raised more than $590 million in venture capital funding. Its private-market valuation, according to The Wall Street Journal, is $6 billion.

The company could go public as soon as this year, a source tells the New York Times' Mike Isaac. In Alaska in February, Square filed paperwork listing the company's ownership stakes. Dorsey, the company's CEO, owns 26.2% of the company, the Times reports.

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Last month, Forbes reported that Square would be filing for its IPO. "It's going to happen soon, if it hasn't happened already," a source told Forbes' Ryan Mac at the time. "There has been some internal debate about the ideal timing."

This is an interesting time for Square to go public, with Dorsey as the CEO of two companies. Business Insider previously heard that Dorsey was actually vying for a more permanent position at Twitter. That plan could be complicated by an impending IPO.

Confidential filings are permitted for companies with less than $1 billion in revenue.

Square spokesman Aaron Zamost declined to comment.

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