Square is Not Going Public This Year

Investors chomping at the bit to get a piece of payment company Square will need to hold out a bit longer.

According to Fox Business, Square’s “revenue run rate,” or projected future earnings were disappointing. Square was said to be unprofitable, but the company’s revenue in 2013 hit over $100 million.

Expectations are certainly huge with Square, and earlier in January, the company was said to be holding a private offering valuing the company at $5 billion.

Sitting at the helm is Twitter co-founder Jack Dorsey, and the design decisions of Square reflect the simplicity and usability of Twitter.

Square is truly simplifying payments, and the development of Square Cash (email based person-to-person-payments) allows the company to expand their reach to outside of just merchants and loyal consumers.

Fueled by Square’s growing products for mobile and tablet, Square saw itself processing more than $15 billion in transactions in 2013. Of course, thanks to payment card companies taking a cut, profitability depends on sheer volume.

There are many players in this space including PayPal, Intuit, PayAnywhere, and LevelUp, along with other major players mulling entering the highly competitive industry.

If Square decides not to go public, Square could become an attractive and major acquisition for one of its many competitors.