Goldman Sachs is crushing tech IPOs
Now CNBC is reporting that Goldman Sachs will lead the IPO, with Morgan Stanley also hired as an advisor. (Bloomberg reports that JPMorgan is also working on the deal.)
The plum role on what could be one of the year's hottest flotations should not come as a surprise.
Goldman has been killing it when it comes to tech deals.
It's currently the No. 1 firm on the Street in tech banking, according to data from Dealogic, raking in $328 million in revenue from tech deals so far this year.
That's a 13.3% share of the market.
Morgan Stanley is in second place with $243 million to date this year, followed closely by JPMorgan.
Here's the league table from Dealogic:
Goldman also dominated the league tables for global M&A and deals in the US in the first half.
Goldman Sachs and Square both declined to comment.
Square raised $25 million in funding from Victory Park Capital in May, taking the total the company has raised to more than $590 million. Its private-market valuation, according to The Wall Street Journal, is $6 billion.