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Who gets rich from the Square IPO tomorrow (SQ)
Posted November 18, 2015 6:20 PM
Who gets rich from the Square IPO tomorrow (SQ)

Square's long-awaited IPO is going to make a lot of money for founders, investors, and early employees. 

The mobile payments startup set its IPO price at $9 a share

Here are the major shareholders in Square and how much their stakes will be worth when the company goes public at that price.

Jack Dorsey, Square CEO and co-founder: $640,116,738

Total shares owned: 71,124,082Percentage of company: 24.4%

Value at $9 IPO price: $640,116,738

Dorsey is pulling double duty as the CEO of Square and Twitter. He's been Square's only CEO since 2009. 

 

 

 

Vinod Khosla, Khosla Ventures: $454,705,020

Total shares owned: 50,522,780Company share: 17.3%

Value at $9 IPO price: $454,705,020


Why some Googlers talk about their risky projects at the start of every meeting

Google's picky employee selection process is the stuff of legend.

Once you get the job, you're surrounded by others who also made the cut — some of the smartest, most accomplished people on the planet.

This can actually be intimidating and make employees unhappy, Google's HR folks recently discovered.

That was one finding of a two-year study of team success involving more than 180 work teams. Google's HR department released the results of the study on Tuesday.


Tinder CEO's bizarre interview forced parent company on brink of IPO to race out a filing with the SEC (MTCH, IACI)

In an interview with the Evening Standard, Tinder CEO Sean Rad gave a cringe-worthy interview, sparking his parent company, Match Group, to file an update about it with the SEC.

"You can’t deny Tinder is what the world wants," Rad told the Evening Standard, adding that Tinder has managed to solve"the biggest problem in humanity: that you’re put on this planet to meet people."

The so-called "free writing prospectus" filed with the SEC however on Wednesday, is not to clarify


Square finally sets its IPO price — and it's lost half of its value in about a year

Jack Dorsey's payments company Square has finally set the price for its much anticipated IPO at $9 per share, according to the Wall Street Journal. That will give the company a market cap of $2.9 billion when it starts trading on the NYSE Thursday.

The share price has been lowered from the $11 to $13 per share price range initially proposed by Square in its S1, which would have given a $4.2 billion valuation at the high end.

That price range was already a drop from the valuation investors gave Square during its most recent private round of financing, when Square raised $150 million at $15.50 per share, or at a valuation of $6 billion, in October 2014. The company has raised over $590 million since its launch in 2009.


Urs Hölzle, Google's 8th employee and tech guru, thinks the cloud could make more money than ads (GOOG, GOOGL)

Urs Hölzle, Google's eighth employee and overall cloud boss, thinks that within the next five years, the company's Google Cloud Platform revenues could surpass Google's advertising revenue.

"The goal is for us to talk about Google as a cloud company by 2020," Hölzle said on stage at today's Structure conference in San Francisco. 

That would represent a huge transformation of Google's business. The internet company generated 89% of its revenue from advertisers in 2014, primarily from the lucrative search ads that appear alongside its search results. 

And it would require serious acceleration in Google's cloud business, which is generally considered to lag the competition.


Disturbing numbers reveal just how deadly air pollution is for humans

Air pollution poses a serious threat to human health, especially in developing countries like China where the quality of air is particularly bad.

A recent study from UC Berkeley estimated that air pollution contributes to 1.6 million deaths in China per year — that's about 17% of the country's population!

Moreover, experts calculate that air pollution kills more people worldwide than AIDS, malaria, breast cancer, or tuberculosis.

For a broader perspective on the dangers of air pollution, the producers at


Why 'Rise of the Robots' was named the most important business book of the year

Yale bioethicist Wendell Wallach proclaimed in June that the developed world is at an "unparalleled" moment in history where technology is replacing more jobs than it creates.

If we use the word "robot" as shorthand for a wide variety of machines and programs fueled by artificial intelligence, then we are in the early stages of a robot revolution.

One of the most vocal proponents of a need to address these changes in the workforce before they get out of control is Bay Area software developer Martin Ford, who told Business Insider earlier this year, "If you look far enough into the future, say 50 years and beyond, there aren't any jobs that you could say absolutely for sure are going to be safe."


Salesforce hits an all time high on earnings beat (CRM)

Salesforce just reported its third quarter earnings.

It's an overall beat across the board. Shares are up more than 3% after hours, and are now at a record of almost $80 per share.

Here are the most important numbers:

Revenue: $1.71 billion vs. $1.70 billion expected

EPS: $0.21 per share vs. $0.19 per share (non-GAAP)

The revenue is a 24% jump from the same quarter of last year. Salesforce also raised its full year revenue guidance to $6.64 billion to $6.65 billion.


A hashtag about why people still use Facebook is trending on Twitter and some of the responses are hilarious (FB)

The hashtag "IStillFacebookBecause" took over Twitter Wednesday, with nearly 20,000 tweets boosting it into the social network's "trending" section.

Although people have gleefully piled on with snarky digs at the 11-year-old social network, it feels ironic that they're doing so on Twitter, which has about a fifth as many users as Facebook and flat growth.

Jokes aside, Facebook isn't going away any time soon. 

The company logged 1.55 billion monthly active users on The Big Blue App alone last quarter. It also has hundreds of thousands of MAUs on Instagram, Messenger, and WhatsApp, which it also runs. 

But, still, the hashtag is pretty funny and worth a peek. 

Some of our favorite tweets include people...

Making fun of their "friends"


Google engineer loves working with Microsoft engineers: 'We share the same soul' (MSFT, GOOG, GOOGL)

Microsoft launched a bunch of new software programming products in an event in New York on Wednesday and during the keynote speech, showed an unusual video: a group of Google engineers saying how much they loved working with Microsoft.

One Google engineer basically called out his Microsoft counterparts as soul-mates, saying (emphasis ours): 

"It really became apparent that we share the same soul and we’ve been able to work really well together because of that," said Brad Green, Google's director of engineering for a project called Angular.

He's talking about a project that Google and Microsoft actually co-developed together called Angular — a free and open source tool for writing web apps in a popular language called JavaScript.