#OhSnap

From @AmerBanker:

VeriFone CEO on Square’s Latest Funding Round? ‘Pets.com’

Square is close to raising $200 million, according to reports, for an implied valuation of $3.25 billion — nearly as much as its well-entrenched point of sale competitor VeriFone, which is currently worth about $3.7 billion.

Square has been battling competitors for the past several years and has successfully created a business out of providing card acceptance for casual users.

When asked about the news and speculation that Square could rival VeriFone’s size with only about a tenth of the sales, and no real profits, VeriFone chief executive Doug Bergeron responded with two words: “Pets.com” — referring to the over-hyped dot-com that crashed and burned in 2000. (A Square spokesman declined to comment.)

From Business Insider:

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One thought on “#OhSnap

  1. Pingback: Where You Won’t Find PayPal’s Here, of VeriFone’s SAIL | Sean Sposito

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