Block Inc. (NYSE: SQ)
Software - Infrastructure · San Francisco, CA, United States · Founded 2009
- Market capitalization: $40.0 billion
- Annual revenue: $24.19 billion
- Net income: $1.31 billion
- Employees: 13,000
- Sector: Technology
- Headquarters: San Francisco, United States
- Founded: 2009
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Block (formerly Square) operates two main businesses: Square (payment processing for merchants) and Cash App (consumer financial services). Cash App has over 55 million monthly active users and has become a full-fledged financial platform offering peer-to-peer payments, direct deposit, stock and Bitcoin trading, and a debit card. Jack Dorsey (also Twitter's co-founder) started Square in 2009 with Jim McKelvey.
Square charges merchants a flat transaction fee (typically 2.6% + $0.10) for payment processing. Cash App monetizes through instant deposit fees, Cash App Card transactions, Bitcoin trading spreads, and Cash App Borrow (small loans). Bitcoin revenue is large but low-margin u2014 it inflates the top line without contributing much profit. The company rebranded from Square to Block in 2021 to reflect its broader ambitions.
McKelvey couldn't accept a credit card payment for his glass art, so he and Dorsey built a tiny card reader that plugged into a phone's headphone jack. Square launched in 2009 and went public in 2015 at $9 per share. Cash App launched in 2013 and exploded during COVID. Block acquired Afterpay (buy-now-pay-later) for $29 billion in 2022 and TIDAL (music streaming) for $297 million in 2021.
| Market Capitalization | $40.0B |
| Annual Revenue | $24.19B |
| Net Income | $1.31B |
| Profit Margin | 5% |
| Revenue per Employee | $1860769K |
| Stock Exchange | NYSE |
| Ticker Symbol | SQ |
Financial data is approximate and based on most recent annual filings.
The original Square card reader was designed to look like a piece of candy so it wouldn't intimidate small merchants. Jack Dorsey is a Bitcoin maximalist who has said he'd leave Block to work on Bitcoin full-time if needed. Cash App's growth was turbocharged by hip-hop culture u2014 rappers frequently reference it in songs.
Cash App is the real gem inside Block, but Dorsey's Bitcoin obsession and the Afterpay acquisition at peak valuation raise questions about capital allocation discipline.
What is Block Inc.'s revenue?
Block Inc. generates approximately $24.19 billion in annual revenue.
How many employees does Block Inc. have?
Block Inc. employs approximately 13,000 people worldwide.
What is Block Inc.'s market cap?
Block Inc. (SQ) has a market capitalization of approximately $40.0 billion on the NYSE.
When was Block Inc. founded?
Block Inc. was founded in 2009 and is headquartered in San Francisco, CA, United States.
Who is the CEO of Block Inc.?
Jack Dorsey is the current CEO of Block Inc..
What is Block Inc.'s website?
Block Inc.'s official website is block.xyz.
| CEO | Jack Dorsey |
| Sector | Technology |
| Industry | Software - Infrastructure |
| Founded | 2009 |
| HQ | San Francisco, CA |
| Country | United States |
| Website | block.xyz |