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Block, Inc.

This article is about the parent company. For the business-facing financial services it operates, see Square (financial services).
"Square, Inc." redirects here. For the video game company, see Square (video game company).
Block, Inc.
FormerlySquare, Inc. (2009–2021)
Company typePublic
Industry
FoundedFebruary 14, 2009 (2009-02-14) in St. Louis, Missouri, U.S.
Founder
HeadquartersNo headquarters[2]: 16 
Area served
95 countries including United States, Canada, Australia, Japan, United Kingdom, Ireland, France, Spain
Key people
ProductsSquare (POS terminal and auxiliary equipment), Cash App (peer to peer money transfer app), Bitkey (self-custody Bitcoin hardware wallet)
Services
RevenueIncrease US$21.92 billion (2023)
Negative increase −US$279 million (2023)
Negative increase −US$9.8 million (2023)
Total assetsIncrease US$34.07 billion (2023)
Total equityIncrease US$18.69 billion (2023)
OwnerJack Dorsey (10%)
Number of employees
12,985 (2023)
Subsidiaries
Websiteblock.xyz
Footnotes / references
[3][2][4][5][6][7][8]

Block, Inc. (formerly Square, Inc.[9]) is a U.S. public company founded by Jack Dorsey and Jim McKelvey in 2009. It is a financial technology conglomerate, reportedly serving 56 million users and 4 million businesses, with an annual payment processing volume of US$228 billion as of 2023.[10][11][3]

Block's inaugural product Square, launched in 2009, is a financial services platform for small and medium-sized businesses. Square enables the use of smartphones or tablets as point-of-sale registers for processing credit card payments,[12] and facilitates operations such as customer bookings,[13] e-Commerce,[14] inventory,[15] payroll, shift schedules,[16] banking, and borrowing business loans.[17] Additionally, Block’s portfolio includes Cash App, a consumer-focused service introduced in 2013. This app offers peer-to-peer transactions, direct deposits,[18][19] a savings account, a debit card, investing in stocks and Bitcoin,[20][21] a tax filing service,[22] and personal loans.[23] Block also owns Afterpay, a buy now, pay later service;[24] TBD, a decentralized platform targeting Bitcoin and decentralized finance;[25][26] Bitkey, a self-custody Bitcoin hardware wallet;[27][28] and Tidal, a subscription-based music streaming service.[29]

  1. ^ Clifford, Catherine (2020-05-21). "Twitter billionaire Jack Dorsey on giving away his money: 'If someone is in pain, I am in pain'". CNBC. Retrieved 2020-06-03.
  2. ^ a b "Square, Inc. Annual Form 10-K (2021)". U.S. Securities and Exchange Commission. February 26, 2022. Retrieved March 9, 2021.
  3. ^ a b "Square, Inc. Annual Form 10-K (2023)". U.S. Securities and Exchange Commission. February 22, 2024.
  4. ^ "Square Inc. Co-Founder Tristan O'Tierney Dies at 35". Bloomberg News. March 2, 2019. Retrieved March 5, 2019.
  5. ^ "Wall Street Breakfast: Square, Match Group Ready For Market Debut". Seeking Alpha. 19 November 2015. Retrieved 19 November 2015.
  6. ^ "Inside Square's Massive New San Francisco Headquarters". Mashable. October 11, 2013. Retrieved June 10, 2015.
  7. ^ "Bloomberg Billionaires Index: Jack Dorsey". bloomberg.com. Archived from the original on 10 April 2022. Retrieved 24 July 2022. Dorsey owns about 10% of Block, formerly known as Square, according to a February 2022 regulatory filing.
  8. ^ Jacob, Denny (April 22, 2022). "Block CEO Jack Dorsey's Title Now Block Head and Chairperson". The Wall Street Journal. Retrieved 2022-10-29.
  9. ^ Browning, Kellen (1 December 2021). "Square, Jack Dorsey's payments company, changes its name to Block". The New York Times. Retrieved 2 December 2021.
  10. ^ Cite error: The named reference :0 was invoked but never defined (see the help page).
  11. ^ Sigalos, MacKenzie (2024-02-22). "Block shares surge as much as 14% after company announces surprise profit". NBC Los Angeles. Retrieved 2024-02-23.
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  24. ^ Cite error: The named reference :14 was invoked but never defined (see the help page).
  25. ^ Lowrey, Annie (2023-06-17). "Is Crypto Dead?". The Atlantic. Retrieved 2023-12-12.
  26. ^ Adams, Michael (2023-12-01). "6 Best Cryptocurrency Stocks Of December 2023 – Forbes Advisor". forbes.com. Retrieved 2023-12-12.
  27. ^ Sureban, BL Bengaluru Bureau & Haripriya (2023-12-07). "Block Inc launches self-custody bitcoin wallet Bitkey in India". BusinessLine. Retrieved 2024-02-05.
  28. ^ "Jack Dorsey's Block opens up preorders for Bitcoin hardware wallet Bitkey in more than 95 countries". Fortune Crypto. Retrieved 2024-02-05.
  29. ^ Cite error: The named reference :17 was invoked but never defined (see the help page).

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