Is Square legitimate

As expected, Square is going public. The payment provider submits his official application for listing on the stock exchange, thereby providing insight into his company.

Jack Dorsey cleans up: The new Twitter CEO is now going public with his payment company Square. The company has submitted the application for approval on Wall Street. This enables first insights into the company's financial situation.

Square posted sales of $ 560.6 million in the first half of 2015 and posted a loss of $ 77.6 million. Square's largest shareholder is currently founder Jack Dorsey, with a 24.4 percent stake. Khosla Ventures owns 17.3 percent, while co-founder James McKelvey owns 9.4 percent of Square.

Interesting: The official document also comments on the fact that company boss Dorsey also occupies the CEO position on Twitter and thus fulfills a dual role. "This could at times adversely affect its ability to devote time, attention, and effort to Square," according to the so-called S-1 document.

Square plans to sell $ 275 million worth of shares on Wall Street. As early as June 2015, it was said that Square wanted to go public within the year. With a financing round in the previous year, the company positioned itself for the IPO at an early stage.