Square and Twitter founder Jack Dorsey confirmed what we already knew in a tweet today: Square has done quite well since it was founded in 2009. The company has processed a whopping 1 billion payments to date, Dorsey said.
Square also just recently landed $150 million in funding. The company has raised a total of $590 million to date.
Square started with a simple card-swipe device that could be tacked onto a mobile phone or tablet, enabling small businesses wary of the costs associated with payment terminals to accept credit cards. Since then, the company has expanded into a provider of small business software with tools like its register platform, appointments app, analytics, and inventory management apps. Square has also branched out into small-business lending with Square Capital, and it’s kept a hand in consumer products with its peer-to-peer payment app, Square Cash, as well as its order-in-advance restaurant app, Square Order.
A milestone: 1 BILLION payments through Square! Who made the billionth swipe? A merchant in Sacramento that's been using Square for 2 years.
— jack (@jack) November 5, 2014
The company doesn’t show any signs of slowing down, either, though it operates in an incredibly competitive space. For Dorsey, one thing’s for sure: Twitter wasn’t his one-hit wonder.
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