Future of Square | Quantumrun

Future of Square

Square, Inc., is a financial services and mobile payment company based in San Francisco, Calif. It was founded in 2009 by Jack Dorsey and Jim McKelvey. Square markets software and hardware payments products, which includes Square Reader and Square Register. It has also expanded into small business services, a financing program and a person-to-person payment service. Square has received praise for its products, with Business Insider complimenting it for its “ease of use, simplicity and elegance.” The company’s first app and service was launched in 2010.

Home Country: 
United States
Industry: 
Mobile payment, Point of sale,Financial Services
Industry vulnerability to disruption: 

<p>Belonging to the financial sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:</p>

<p>*First off, the shrinking cost and increasing computational capacity of artificial intelligence systems will lead to its greater use across a number of applications within the financial world—from AI trading, wealth management, accounting, financial forensics, and more. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white-collar employees.<br />
*Blockchain technology will be co-opted and integrated into the established banking system, significantly reducing transaction costs and automating complex contract agreements.<br />
*Financial technology (FinTech) companies that operate entirely online and offer specialized and cost-effective services to consumer and business clients will continue to erode the client base of larger institutional banks.<br />
*Physical currency will disappear in much of Asia and Africa first due to each region’s limited exposure to credit card systems and early adoption of internet and mobile payment technologies. Western countries will gradually follow suit. Select financial institutions will act as intermediaries for mobile transactions, but will see increasing competition from tech companies who operate mobile platforms—they will see an opportunity to offer payment and banking services to their mobile users, thereby cutting out traditional banks.<br />
*Growing income inequality throughout the 2020s will lead to an increase in fringe political parties winning elections and encouraging stricter financial regulations.</p>

Total patents held: 
1 639
Number of patents field last year: 
24
Ranking List: 
735
Ranking List: 
2017 Quantumrun Global 1000
480
Ranking List: 
2017 Quantumrun US 500
91
Ranking List: 
2017 Quantumrun Silicon Valley 100
Market Revenue Country: 
Market country 
United States
Revenue from country 
0.96
Prod/Serv name revenue: 
Prod/Serv name: 
Transaction-based
Prod/Serv revenue: 
1456160000
Prod/Serv name: 
Subscription and services-based
Prod/Serv revenue: 
129351000
Prod/Serv name: 
Starbucks transaction-based
Prod/Serv revenue: 
78903000
Founded: 
2009
Company Name: 
Square
Sector: 
Revenue: 
1708721000
3y average revenue: 
1275343667
Operating expenses: 
746491000
3y average expenses: 
555848000
Company profile data note: 
All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page.
Global employee count: 
1853
Number of domestic locations: 
14
Funds in reserve: 
452030000
create term: 
#735 | 2017 Quantumrun Global 1000
#480 | 2017 Quantumrun US 500
#91 | 2017 Quantumrun Silicon Valley 100

Square, Inc., is a financial services and mobile payment company based in San Francisco, Calif. It was founded in 2009 by Jack Dorsey and Jim McKelvey. Square markets software and hardware payments products, which includes Square Reader and Square Register. It has also expanded into small business services, a financing program and a person-to-person payment service. Square has received praise for its products, with Business Insider complimenting it for its “ease of use, simplicity and elegance.” The company’s first app and service was launched in 2010.

Home country:
United States
Sector:
Financials
Industry:
Mobile payment, Point of sale,Financial Services
Website:
Founded:
2009
Global employee count:
1,853

Financial Health

Revenue
$1,708,721,000 USD
3y average revenue
$1,275,343,667 USD
Operating expenses
$746,491,000 USD
3y average expenses
$555,848,000 USD
Funds in reserve
$452,030,000 USD
#1 Market country
United States
% of revenue from country #1
0.96%

Asset Performance

#1 Product/Service/Dept. name
Transaction-based
#1 Product/Service revenue
$1,456,160,000 USD
#2 Product/Service/Dept. name
Subscription and services-based
#2 Product/Service revenue
$129,351,000 USD
#3 Product/Service/Dept. name
Starbucks transaction-based
#3 Product/Service revenue
$78,903,000 USD

Innovation assets and Pipeline

Total patents held
1,639
Number of patents field last year
24
All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page.

Disruption Vulnerability

Belonging to the financial sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:

*First off, the shrinking cost and increasing computational capacity of artificial intelligence systems will lead to its greater use across a number of applications within the financial world—from AI trading, wealth management, accounting, financial forensics, and more. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white-collar employees.

*Blockchain technology will be co-opted and integrated into the established banking system, significantly reducing transaction costs and automating complex contract agreements.

*Financial technology (FinTech) companies that operate entirely online and offer specialized and cost-effective services to consumer and business clients will continue to erode the client base of larger institutional banks.

*Physical currency will disappear in much of Asia and Africa first due to each region’s limited exposure to credit card systems and early adoption of internet and mobile payment technologies. Western countries will gradually follow suit. Select financial institutions will act as intermediaries for mobile transactions, but will see increasing competition from tech companies who operate mobile platforms—they will see an opportunity to offer payment and banking services to their mobile users, thereby cutting out traditional banks.

*Growing income inequality throughout the 2020s will lead to an increase in fringe political parties winning elections and encouraging stricter financial regulations.