Square re 150 million financing valuation of 6 billion

Phoenix Technology News Beijing on October 7th news, according to "the Wall Street journal" reported that the Square mobile payment company recently from foreign investment channels to obtain a total of $150 million in financing, valuation of the Square round of financing of $6 billion. At this time Square resist apple, Amazon, Google and PayPal challenge in the field of mobile payment.

, according to one source, the Singapore Government Investment Company (Government of Investment Corporation Pte Ltd) led the latest round of investment in Square. In addition, Square had invested in Goldman Sachs Group and Rizvi Traverse Management are involved in the current round of financing.

through this round of financing to raise cash, will expand the survival time of Square. Because it is difficult to make smart phone credit card reading device to achieve profitability, Square has burned hundreds of millions of dollars in financing.

in recent years, due to the expansion of the loss of Square, it began to seek new areas of expansion outside of mobile payments, such as food delivery. According to "the Wall Street journal" reported on April, Square has also held talks with apple, eBay, Google and other rich technology giants may consider selling Square. Informed sources, Square in 2013 net loss of approximately $100 million, compared to the same period last year losses.

‘s new round of financing for Square’s valuation of $6 billion, slightly higher than the valuation of Square $5 billion 200 million at the beginning of this year. However, this round of investment led by Singapore Government Investment Company investment, indicating that Square is difficult to attract a higher valuation of top technology investors. As senior analyst Jordan · (Jordan McKee) said: "given the uncertain prospects of Square, some of the top investors began to become a little hesitant."

Square also faces strong competition from competitors PayPal, Google and Amazon, and apple recently launched a Apple pay.

A spokesman for

Square confirmed that the company has completed the E round of financing through new and existing investors, but refused to disclose details. (compile / water)