Square Files for an IPO

SAN FRANCISCO (San Jose Mercury News/TNS) -

Mobile-payment company Square plans to start selling its stock to the public, filing paperwork Wednesday for an initial public offering.

The filing to the U.S. Securities and Exchange Commission also shows that the company’s net revenue grew 51 percent to $560.6 million for the six months ending in June. The startup, valued at about $6 billion, also reported a net loss of $77.6 million during that period.

Founded in 2009, Square said in a statement that it intends to list its shares on the New York Stock Exchange under the ticker symbol “SQ.”

Square CEO Jack Dorsey is also the chief executive of Twitter.