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Summary:

It would make sense for Google to talk to Square about acquiring its slick but money-losing mobile payments business, but good luck determining who talked to who about what.

Square
photo: Square

Conflicting reports Sunday night centered on whether Google did or did not talk to Square about acquiring the mobile payments company. First, the Wall Street Journal (reg required) reported that the San Francisco-based company, founded by Twitter co-founder Jack Dorsey, did, in fact, hold acquisition talks with Google earlier this year. The story also claimed that Square had talked informally with Apple and PayPal about a sale.

No sources were named and a Square spokesman told the Journal that “We are not, nor have we ever been in acquisition talks with Google.”

A TechCrunch follow up cited several unnamed sources who said no serious talks between the two companies ever took place.

Square’s technology is used by many small merchants to process credit card purchases by way of a dongle plugged into an iOS or Android device, but the company logged a $100 million loss last year. In any case, one could see why Square might prove a tempting target for Google, which has its own Google Wallet payment system, but hasn’t set the world on fire.

  1. I have said it about a dozen times now that mobile payments is not a viable growth sector. Too many issues and too many vulnerabilities built into a mobile platform!

    Come on financial industry zombies, create something worthwhile for a change!

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  2. It’s very simple: bubble2.0 is starting to burst! Read the WSJ article. Square will soon get into “critical” cash moment. Those who forgot/not part of bubble 1.0 will soon learn it!

    Another example: Hadoop is hot but Hadoop startup Karmasphere just folded! You may want to start a section about bubble burst and start listing all these…you will make $!

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