Once the hottest of startups, Square has now officially cooled down.
On the eve of its initial public offering, we now know that Square – co-founded by Twitter CEO Jack Dorsey - has lost some of its value, and along with it, some of its luster.
Square, after pricing its IPO in the $11 - $13 range, didn’t even get that much enthusiasm from potential investors, and lowered its price.
Square will IPO Thursday morning, launching with a $9 a share price.
Once valued at $6 million, the IPO price now values the company at a shade below $3 billion.
We’ll let you know how it does when the public gets a shot at owning shares, Thursday morning.
Scott, an early user of Square, is on Twitter: @scottbudman
