Square will IPO and begin trading the week before Thanksgiving
Square is expected to set its IPO price range this week and will kick off its roadshow, in which management presents the company to potential investors, next week, CNBC said, citing anonymous sources.
The company, which filed the public prospectus for its IPO last month, intends to apply to list its common stock on the New York Stock Exchange under the symbol "SQ."
According to Square's S-1 filing, the company generated $850 million in net revenue in 2014. Its net losses for the same year were $154 million.
Through the first six months of 2015, the company's net revenues are $560.6 million, which is up 51% from the same period in 2014. Through the first six months of 2015, its net losses are $77 million, roughly in line with what it did over the same period a year ago.
Square also recently disclosed its Q3 financials, which showed the company had $332.2 million in net revenue, $118.8 in adjusted revenue, and $53.9 million in net losses for the quarter. Compared to the last fiscal year, its revenue growth increased but so did its losses.
Jack Dorsey is now the full-time CEO of Square and Twitter. When Square has its IPO, he'll be the CEO of two public companies.
This could be a risk factor, the company says.
In total, the company has raised more than $590 million in venture-capital funding. Its private-market valuation, according to The Wall Street Journal, is $6 billion.