<ul><li>Northern Arc Capital is expected to announce its share allotment status on Friday, September 20.</li><li>The shares of Northern Arc Capital were subscribed 110.60 times.</li><li>The shares are expected to be listed on the stock exchanges on September 24.</li></ul> Chennai-based Northern Arc Capital, a non-banking financial company (NBFC) that offers retail loans is expected to announce the allotment status of its initial public offering (IPO) on Friday, September 20.<br /><br />The <keyword id="23210924" type="General" weightage="20" keywordseo="Northern-Arc-Capital-IPO" source="keywords">Northern Arc Capital IPO</keyword> opened on September 16 and closed on September 20. The price band for the IPO was ₹249 to ₹263 per share.<br /><br /><h2><keyword id="23190016" type="General" weightage="20" keywordseo="Northern-Arc-Capital-IPO-subscription" source="Orion">Northern Arc Capital IPO subscription</keyword></h2>On its last day, the Northern Arc Capital IPO was subscribed 110.60 times, receiving bids for 237.56 crore equity shares against 2.15 crore shares on offer.<br /><br />While the qualified institutional buyer (QIB) portion was subscribed 240.79 times, the non-institutional investor's portion was subscribed 142.17 times. The retail portion witnessed good participation and was subscribed 30.57 times. The employee portion was subscribed 7.11 times.<br /><br /><h2>Northern Arc Capital grey market premium</h2>The shares of Northern Arc Capital are currently commanding a grey market premium (GMP) of ₹160 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.<br /><br /><h2>How to check Northern Arc Capital’s IPO allotment status</h2>You can check the allotment status on the registrar’s website.<br /><br /><ul><li>To check the <keyword id="23190015" type="General" weightage="100" keywordseo="Northern-Arc-Capital-IPO-allotment" source="Orion">Northern Arc Capital IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.<br /></li><li>Click on ‘Company Selection’ and then select ‘Northern Arc Capital’.<br /></li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.<br /></li><li>Click on ‘Search’.<br /></li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you.<br /><br />You can also check the Northern Arc Capital IPO allotment status on the BSE and NSE websites.<br /><br />To check the allotment status on the BSE or NSE website:<br /><br /><ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.<br /></li><li>On the website, click on 'Equity' and then select ‘Northern Arc Capital’ from the dropdown menu.<br /></li><li>Now, enter your application number and PAN.<br /></li><li>Click on 'Search'.<br /></li></ul>You will be able to see the number of shares allotted to you.<br /><br />You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE.<br /><br /><h2>Northern Arc Capital listing date</h2>The shares of Northern Arc Capital will be listed on the stock exchanges on September 24.<br /><br /><em>Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice.</em><br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-emerges-as-the-worlds-second-biggest-smartphone-brand-in-august/articleshow/113478178.cms">Xiaomi emerges as the world’s second-biggest smartphone brand in August</a><br /><br /><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-announces-diwali-dhamaka-offer-get-jioairfiber-free-for-one-year/articleshow/113451512.cms">Reliance Jio announces Diwali Dhamaka offer – Get JioAirFiber free for one year</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/apps/news/instagram-will-force-teenagers-to-have-a-private-account-enable-sleep-mode-after-10-pm/articleshow/113449313.cms"><strong>Instagram will force teenagers to have a private account, enable sleep mode after 10 PM</strong></a><br />

Northern Arc Capital IPO allotment – How to check allotment, IPO GMP, listing date and more

Northern Arc Capital IPO – Price band to risk factors, all you need to know

<p><strong><em>Welcome to <keyword id="9884466" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis">Insider Cannabis</keyword>, our weekly <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis">cannabis</keyword> boom.</em></strong></p><p><strong><em><a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.</em></strong></p><p><strong>Programming note:<a href="https://www.businessinsider.com/webinar-how-to-invest-in-legal-cannabis-expert-qa-2021-4"> Join us on Thursday, April 29 at 1 pm Eastern.</a> Yeji and I will be chatting with Emily Paxhia of Poseidon Asset Management and Mitch Baruchowitz of Merida Capital Partners about how to invest in the spread of <keyword id="40905" type="PERSON" weightage="60" keywordseo="Marijuana">marijuana</keyword> legalization around the US.</strong></p><p><strong>We'll have insight on the best companies to invest in - and who to avoid. <a href="https://www.businessinsider.com/webinar-how-to-invest-in-legal-cannabis-expert-qa-2021-4">Sign up here</a>.</strong></p><p>Happy Friday and 4/20 week everyone,</p><p>It's weeks like this one where I have to sit back and take stock of how far we've come on attitudes toward cannabis, despite covering the industry every day. It's one of the most rapid shifts in public perception and policy that I can think of, outside of same-sex marriage.</p><p>I'm also 28 years old, so I'm willing to be wrong on this one. But hear out my argument:</p><p>Senate Majority Leader Chuck Schumer used 4/20 to push for comprehensive federal cannabis reform, calling it an 'unofficial American holiday' on the Senate floor. Last year, he used 4/20 to introduce a bill to decriminalize marijuana. </p><p>4/20, so the story goes, was started by a group of Grateful Dead-loving high schoolers in Northern California, <a href="https://www.businessinsider.com/heres-where-420-weed-holiday-came-from-2017-4">as I've written</a>. They probably didn't expect their inside joke to end up in the Senate Chamber as a cudgel for pushing legalization.</p><p><a href="https://www.pewresearch.org/fact-tank/2021/04/16/americans-overwhelmingly-say-marijuana-should-be-legal-for-recreational-or-medical-use/">New polling from Pew</a> shows that only 8% of Americans think cannabis should remain illegal for all uses. Research from a top-tier marketing firm shows that 55 million Americans consume cannabis. </p><p>Congressional Democrats are, in some capacity, banking on the passage of cannabis reform - or at least, preparing to run on that promise to keep their majorities in the midterm elections. Jen Psaki, the White House press secretary, was asked about President Joe Biden's position on the issue. It wasn't too encouraging, as she said his position is far from his party's dominant position in Congress.</p><p>But, she did leave the door ajar: She said that Congress hasn't delivered the bill yet, so it remains to be seen what he'll sign.</p><p>On that front, the House again passed the SAFE Banking Act for the second time in as many years. Analysts, however, expect that the bill won't see a Senate vote. They expect that <a href="https://www.businessinsider.com/marijuana-legalization-compromise-scenario-more-likely-than-safe-act-2021-4">portions of the bill will be tied into more comprehensive reform proposed by Schumer,</a> as I wrote this week. </p><p>What else?</p><p>New York legalized cannabis. We picked the 27 power players, from lawmakers to regulators, to executives, <a href="https://www.businessinsider.com/list-top-cannabis-executive-advocates-regulators-new-york-2021-4">that will shape the future of the industry</a>. </p><p>And law firms, recruiters, marketers, and tech startups are <a href="https://www.businessinsider.com/new-york-marijuana-legalization-gold-rush-pr-law-recruiting-firms-2021-4">preparing for a gold rush as New York opens up its legal cannabis market</a>.</p><p>Yeji, who's dominated the emerging psychedelics beat, poured over Atai's over 370-page S-1 filing to <a href="https://www.businessinsider.com/atai-life-sciences-ipo-psychedelics-key-takeaways-s-1-filing-2021-4">pick out some of the key details you need to know</a>. </p><p><em>As a reminder, here's how to get in touch with us: jberke@businessinsider.com or ylee@businessinsider.com. Signal number for encrypted messages upon request.</em></p><p><em>- Jeremy Berke (<a href="https://twitter.com/jfberke">@jfberke</a>) </em></p><p><strong><em>Here's what we wrote about this week:</em></strong></p><h3><a href="https://www.businessinsider.com/new-york-marijuana-legalization-gold-rush-pr-law-recruiting-firms-2021-4"><strong>Law firms, recruiters, and marketers dish on how they're gearing up for a gold rush from New York's blockbuster move to legalize cannabis</strong></a></h3><p>New York's legal cannabis market has the potential to balloon into a multibillion-dollar industry, and it's creating a gold rush for law firms, public relations companies, recruiters, and compliance startups that service the industry. </p><h3><a href="https://www.businessinsider.com/cannabis-banking-bill-safe-act-congress-marijuana-credit-debit-card-2021-3"><strong>The House just passed a cannabis bill that could open up bank access and supercharge the industry</strong></a></h3><p>The House passed the SAFE Banking Act, on Monday. If signed into law, the bill would let cannabis companies access banking services and allow customers to use credit or debit cards to buy their products. Insider read through the bill and chose the top takeaways from the legislation.</p><h3><a href="https://www.businessinsider.com/delivery-legal-marijuana-dispensaries-on-420-2021-4">Byzantine laws make cannabis delivery a major headache. 3 industry insiders explain how they'll navigate them to cash in on the 4/20 sales boom.</a></h3><p>Some cannabis businesses expect a 250% spike in orders on April 20, a cannabis holiday. Legal restrictions on how deliveries are managed make handling that spike a challenge.</p><p>A bad delivery experience can send shoppers back to the illegal market.</p><h3><a href="https://www.businessinsider.com/marijuana-legalization-compromise-scenario-more-likely-than-safe-act-2021-4"><strong>A top Wall Street analyst lays out how a US marijuana decriminalization 'compromise scenario' could spark an M&amp;A boom</strong></a></h3><p>Cantor Fitzgerald analyst Pablo Zuanic said in a Tuesday note that he expects key parts of the SAFE Act to end up in a more comprehensive cannabis reform bill being crafted by Senate Majority Leader Chuck Schumer, rather than be introduced as a standalone piece of legislation.</p><p>If that bill passes, it would catalyze a wave of M&amp;A in the US, driven by well-capitalized Canadian companies, Zuanic said.</p><h3><a href="https://www.businessinsider.com/atai-life-sciences-ipo-psychedelics-key-takeaways-s-1-filing-2021-4"><strong>Psychedelics giant Atai is going public. We pored over its 373-page filing to find 5 key takeaways.</strong></a></h3><p>Atai Life Sciences, the psychedelics giant backed by big-name investors like Peter Thiel, is going public. The company said in an S-1 filing submitted this week that it plans to trade on the Nasdaq under the symbol "ATAI." We pored over the psychedelic giant's 373-page filing to find the key takeaways.</p><h3><a href="https://www.businessinsider.com/list-top-cannabis-executive-advocates-regulators-new-york-2021-4">The future of New York's $7 billion cannabis industry will be shaped by these 27 power players</a></h3><p>We put together a list of the top 27 power players to watch in New York's cannabis world as regulations roll out and sales begin. We reached out to regulators, associations, executives, and advocates to give readers a look at who to watch in the coming months and years. </p><h2>Executive Moves</h2><ul><li>Cresco Labs <a href="https://www.businesswire.com/news/home/20210422005351/en/Cresco-Labs-Announces-the-Appointment-of-Tarik-Brooks-to-Its-Board-of-Directors-and-the-Retirement-of-Dominic-Sergi">announced on Thursday</a> that Tarik Brooks would be joining its board of directors to replace Dominic Serg, a founder of the company, who is retiring from the role.</li><li>Former Dutchie cofounder Sam Ellis is joining the board of cannabis firm Digital Venture Partners.</li></ul><h2>Deals, launches, and IPOs</h2><ul><li>Jushi Holdings <a href="https://www.globenewswire.com/news-release/2021/04/19/2212219/0/en/Jushi-Holdings-Inc-to-Expand-Footprint-Through-Acquisition-of-Vertically-Integrated-Massachusetts-Operator.html">announced on Monday</a> that it will acquire Nature's Remedy of Massachusetts for $110 million. <a href="https://www.globenewswire.com/news-release/2021/04/20/2213241/0/en/Jushi-Holdings-Inc-to-Acquire-Licensed-Cultivator-in-Ohio.html">On Tuesday</a>, the company said it would also acquire Ohio-based OhiGrow in a $5 million cash deal.</li><li>TerrAscend <a href="https://www.newswire.ca/news-releases/terrascend-doubles-dispensary-footprint-in-pennsylvania-through-acquisition-of-keystone-canna-remedies-871494976.html">announced</a> that it would acquire Pennsylvania-based GuadCo and KCR Holdings in a $70 million stock, note, and cash deal.</li><li>Psychedelics company MindMed <a href="https://www.prnewswire.com/news-releases/mindmed-to-commence-trading-on-nasdaq-301275575.html">said on Friday</a> that it will begin trading on Nasdaq on Tuesday. The company <a href="https://www.prnewswire.com/news-releases/mindmed-submits-application-for-nasdaq-up-listing-appoints-canaccord-genuity-as-financial-advisor-301134414.html">previously announced</a> in September that it had applied to up-list from the NEO Exchange.</li><li>Atai Life Sciences, the largest private psychedelics company by capital raised, filed to go public on the Nasdaq. <a href="https://www.businessinsider.com/atai-life-sciences-ipo-psychedelics-key-takeaways-s-1-filing-2021-4">Here are the top takeaways</a> from the company's 373-page S-1 filing.</li><li>Cannabis tech startup Wurk <a href="https://www.prnewswire.com/news-releases/wurk-raises-3-5m-in-oversubscribed-series-aa-funding-301274386.html">closed a $3.5 million financing round</a>, with investors including Poseidon Asset Management, Salveo Capital, and the Arcview Group. </li><li>Cannabis company Parallel is pouring <a href="https://www.prnewswire.com/news-releases/parallel-invests-25m-in-a-new-state-of-the-art-cannabis-cultivation-production-and-retail-facility-in-san-marcos-texas-301271401.html?tc=eml_cleartime">$25 million into a new facility in Texas</a>. </li></ul><h2>Policy moves </h2><ul><li>On Monday, the House passed the SAFE Banking Act, a bill that would let cannabis companies access the banking system, for the second time in as many years. Here's <a href="https://www.businessinsider.com/cannabis-banking-bill-safe-act-congress-marijuana-credit-debit-card-2021-3">our story on everything you need to know</a> about the bill. </li><li>The NFL said <a href="https://www.insider.com/nfl-players-can-smoke-marijuana-without-discipline-starting-420-2021-4">it won't test players for marijuana use</a> during the offseason between April 20 and August 9. </li></ul><h2>Research and data</h2><ul><li>A new poll from Pew shows how far public sentiment on marijuana legalization has changed among Americans: Just <a href="https://www.pewresearch.org/fact-tank/2021/04/16/americans-overwhelmingly-say-marijuana-should-be-legal-for-recreational-or-medical-use/">8% say marijuana should remain illegal</a>.</li><li>A study from polling firm YouGov and cannabis company Cresco Labs found <a href="https://www.businesswire.com/news/home/20210420005460/en/Cresco-Labs%E2%80%99-Sunnyside-Dispensary-Releases-New-Survey-Finding-25-Of-Americans-Now-Consume-Cannabis-Consumption-Up-56-Since-2018">that one-quarter of Americans consumed cannabis during the last year</a> - an uptick from 16% in 2018. The pandemic may have had something to do with this. </li><li>Marketing firm MRI Simmons has started to publish some results from its National Cannabis Study, showing that <a href="https://www.mrisimmons.com/press/mri-simmons-study-reveals-cannabis-consumption-up-38-yoy-in-the-u-s/">55 million adults in the US use cannabis</a> - with 17% of the total population consuming more than once a month. </li></ul><h2>Cannabis jobs</h2><ul><li>CBD Oracle, a cannabis reviews site, is looking for weed connoisseurs to <a href="https://cbdoracle.com/news/cannabis-reviewer-job/">take on a part time role to test marijuana products at home</a>. It pays $30,000. </li><li>The Valens Company is hiring for laboratory roles, including laboratory supervisor, <a href="https://www.linkedin.com/posts/thevalenscompany_hiring-we-have-a-few-extra-lab-coats-to-activity-6790677218847789056-b8Hf">among other openings</a>. </li></ul><h2>Chart of the week</h2><p>Tens of millions of tourists who visit New Jersey and New York are expected to buy cannabis products, according to New Frontier Data. The cannabis data company projects that within a few years, New Jersey could see 22.3 million tourists buying marijuana, while New York is expected to have 22.9 million visitors purchase: </p><div type="image" title="The number of tourists expected to buy cannabis in NY and NJ" height="1240" width="1240" msid="82220840" hostid="261"></div><h2>What we're reading</h2><p><a href="https://www.nytimes.com/2021/04/18/world/canada/canada-marijuana-business-struggles.html">After 'Green Rush,' Canada's Legal Pot Suppliers Are Stumbling</a> (New York Times)</p><p><a href="https://www.businessinsider.com/heres-where-420-weed-holiday-came-from-2017-4">Here's how 4/20 became the go-to holiday for marijuana lovers</a> (Insider)</p><p><a href="https://www.forbes.com/sites/willyakowicz/2021/04/20/welcome-to-the-last-illegal-420/?sh=7ac0e2914f5e">Welcome To The Last Illegal 420</a> (Forbes)</p><p><a href="https://finance.yahoo.com/news/heres-how-legal-weed-will-play-out-in-america-120705327.html">Here's how legal weed will play out in America</a> (Yahoo Finance)</p><p><a href="https://www.politico.com/news/2021/04/18/ontario-oregon-marijuana-481211">Border weed: How the hometown of tater tots became a cannabis capital</a> (Politico)</p><p><a href="https://www.axios.com/marijuana-potency-limits-d1844648-e09b-4c3a-b278-2c0f7bc1d0ad.html?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=editorial&amp;utm_content=local-marijuanaal-marijuana">Potency limits are the next frontier in marijuana debate</a> (Axios)</p><p><a href="https://www.rollingstone.com/culture/culture-features/cannabis-climate-change-emissions-1158029/">How Federal Prohibition Is Turning Cannabis Into a Climate Villain</a> (Rolling Stone)</p><p><a href="https://www.insider.com/cbd-products-helping-athletes-avoid-prescription-painkiller-dependence-2021-4">CBD products are helping athletes avoid prescription painkiller dependence</a> (Insider)</p>

New York cannabis gold rush

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a65b25600d0ef20008b4705-1050/screen shot 2018-01-22 at 083533.png" alt="Sarah Friar Square" data-mce-source="Square" data-mce-caption="Square's chief financial officer, Sarah Friar" /><p class="source"><span>Square</span></p><p class="caption">Square's chief financial officer, Sarah Friar</p></div><p></p></div></div></strong></p><ul><li><strong>Payments startup Square has had a massive year, with its share price trebling and the firm on track to post around $1 billion in adjusted revenue for 2017.</strong></li><li><strong>Chief financial officer Sarah Friar guided the firm through its IPO and told Business Insider that Square's success boils down to financial discipline and considered expansion.</strong></li><li><strong>Square is best known for its plug-in card reader which lets small businesses take card payments through a smartphone or tablet.</strong></li><li><strong>Running the firm is particularly challenging because its CEO Jack Dorsey also runs Twitter.</strong></li></ul><hr /><p><br />Most people going into their annual review can expect a mix of praise and criticism, some new targets to hit and, if they're lucky, a pay rise.</p><p>Sarah Friar, in her first review as chief financial officer of payments firm Square, was told by her boss: "I have a simple vision for you, which is that I want you to be the best CFO in the world."</p><p>He then asked her to lay out exactly how she would make that happen.</p><p>That boss was Jack Dorsey, who is CEO of both Square and Twitter.</p><p>Friar is taking a good stab at earning that title. After joining in 2012, she took Square public and has seen its share price and valuation balloon. The firm's market cap is currently $16.5 billion (£11.9 billion).</p><p>In its third quarter, Square posted revenue of $257 million (£185 million), up 40% year on year. The company has yet to post its fourth-quarter results, but Friar said it's on track to post around $1 billion (£719 billion) in adjusted revenue for the full year.</p><p>According to Friar, it all comes down to discipline.</p><h2>Square has carefully managed its growth by avoiding over-expansion</h2><p>Dorsey sometimes has his hands full running Twitter, whose share price has gone in the opposite direction to Square's. It's been a particularly strong 2017 for Square, which has posted around 40% revenue growth during the last two quarters.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a65a65900d0efa1128b4595-975/screen shot 2018-01-22 at 084932.png" alt="Square share price" data-mce-source="Markets Insider" /><p class="source"><span>Markets Insider</span></p></div><p></p></div></div></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a65a659a24444fe3b8b4adc-966/screen shot 2018-01-22 at 084846.png" alt="Twitter share price" data-mce-source="Markets Insider" /><p class="source"><span>Markets Insider</span></p></div><p></p></div></div></p><p>Part of the firm's success is down to its considered approach to expansion. The company was founded in 2009, but its payment service is only available to small businesses in four markets: The US, Canada, the UK, and Japan.</p><p>Square launched in the UK in March last year, offering both its physical plug-in card reader, and an API for merchants to accept online payments. It doesn't offer other US services here, such as its Square Capital small business loans, or food delivery service Caviar. Nor has it applied for a banking licence in Europe.</p><p>Friar describes this as "staging" - choosing not to be the first mover, but timing your expansion into a market before you are too late.</p><p>"You need to be clear in your mind about whether there's a first mover advantage or is there a disadvantage of being 'late' to a market," she said. "Right now our focus in the UK is how to build out that base of sellers here. When we look at the UK market, we see all the same hallmarks as in the US. A massive percentage of businesses don't accept credit and debit cards, and that has the dual cost of [them] missing sales and cash not being free."</p><p>"When I look at Square, we should be doing all that stuff globally," Friar added. "It's just a question of staging."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/564dd3642491f91a008b6719-800/5495494287_80e2569e99_b.jpg" alt="square reader payment" data-mce-source="Shardayyy/Flickr" data-link="https://www.flickr.com/photos/shardayyy/5495494287/in/photolist-9nBQZv-ACdmCc-A8ayLy-srb1Ka-sr4oY3-iicTqi-nQWwa4-s6jBJa-ePX4kf-bvM21C-9rrTWG-afpYLL-foq765-dRj7MB-pFYHRn-e9xZM6-n9Y1in-nz9XiM-q9F1nh-jeZGAj-ejuuRB-dWDaKM-fbXDkm-e2Qk7o-A9yBV2-AsBvSY-zZsGgr-p9RP7a-3nbnzX-c7Kbpu-cFx4j3-9QZLjL-myc97b-wrXkJH-xiGsWb-fycu94-acEDw9-dTi46p-cTb4tj-gu8AwC-epmUUg-nBy37W-xij6bk-eF5pMS-zwKFFT-oZapZz-xXTVtb-gmuW7C-brEVFg-quQp7" /><p class="source"><span><a href="https://www.flickr.com/photos/shardayyy/5495494287/in/photolist-9nBQZv-ACdmCc-A8ayLy-srb1Ka-sr4oY3-iicTqi-nQWwa4-s6jBJa-ePX4kf-bvM21C-9rrTWG-afpYLL-foq765-dRj7MB-pFYHRn-e9xZM6-n9Y1in-nz9XiM-q9F1nh-jeZGAj-ejuuRB-dWDaKM-fbXDkm-e2Qk7o-A9yBV2-AsBvSY-zZsGgr-p9RP7a-3nbnzX-c7Kbpu-cFx4j3-9QZLjL-myc97b-wrXkJH-xiGsWb-fycu94-acEDw9-dTi46p-cTb4tj-gu8AwC-epmUUg-nBy37W-xij6bk-eF5pMS-zwKFFT-oZapZz-xXTVtb-gmuW7C-brEVFg-quQp7">Shardayyy/Flickr</a></span></p><p class="caption">Square's plug-in card reader lets small sellers take payments.</p></div><p></p></div></div></p><p>For now Square is solely focused on merchants. Friar pointed to the Welsh town of Holywell, which partnered with Square when banks shut down their branches, cutting consumers off from cash. Since most merchants don't accept cards in Holywell, that meant a big downturn in business. The town's mayor <a href="http://www.bbc.co.uk/news/business-42541146">credited the Square partnership with a "turnaround" in the town's fortunes</a>.</p><p>Square didn't share UK-specific numbers, but it has more than 2 million sellers worldwide.</p><h2>Friar was hired after a 2.5 hour breakfast meeting discussing her childhood</h2><p>There's little trace of an accent now, but Friar grew up in Northern Ireland through the Irish conflict. She lived close to Strabane, occasionally described as <a href="https://www.belfasttelegraph.co.uk/news/politics/castlederg-is-a-twilight-zone-we-have-the-most-peaceful-and-the-most-violent-history-29482319.html">the most bombed town in Europe</a>. ("It's a goodie, if you look it up on Wikipedia.")</p><p>After reading materials science at Oxford, she went into management consultancy, and then banking. Working at Goldman Sachs through the financial crisis led her to question the banking system and she switched to her first job at Silicon Valley, joining the financial team at Salesforce.</p><p>Friar found the "hypergrowth" atmosphere at Salesforce in 2011 chaotic but ultimately useful.</p><p>She said:</p><p style="padding-left: 30px;">"A private company recently asked my advice on the background for a good CFO, and I said, try to find someone who's experienced chaos. I mean that in a good way. The chaos that comes from hypergrowth at scale - it's like every half hour some new thing is happening that you have to grab hold of and take ideas to being operationalised. Those 1.5 years I spent at Salesforce were great training in how to live in a chaotic hypergrowth environment."</p><p>She stuck around for a year before being headhunted for the CFO role at Square. Her first interview with Jack Dorsey was her first taste of his unconventional management approach.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5907a8df7dea720c3d8b5501-1333/jack dorsey.jpg" alt="Jack Dorsey" data-mce-source="Associated Press" data-mce-caption="Twitter CEO Jack Dorsey." /><p class="source"><span>Associated Press</span></p><p class="caption">Twitter and Square CEO Jack Dorsey.</p></div><p></p></div></div></p><p>"Jack and I went for our first meeting, having breakfast on a Sunday morning," Friar recalled. "It was in the Blue Bottle [Cafe] across from my old office. What was supposed to be a one hour meeting - I think two-and-a-half hours later, I don't think we had fully gotten out of childhood.</p><p>"Jack has a really interesting way of interviewing, because he wants to know who you are as a person. He's like, 'Tell me about yourself.' And you say, 'Well, I work at Salesforce.' And he says, 'No, no, tell me about <em>yourself</em>. Where did you grow up?'"</p><p>Dorsey was fascinated by Friar's experiences with the Irish conflict. Her childhood has, she said, come to inform her thinking at Square.</p><p>"That civil unrest is driven because at least one group has nothing to lose, because they're so economically challenged," she said.</p><p>Square, she said, gives "economic empowerment" - though she also knows this sounds a little corny.</p><p>"Startups can come across as up their own bums - that's such a Northern Irish thing to say," she said, laughing. "It's like no, really, that's such a ridiculous thing to say. But if you talk to Jack, you walk away, and think this man really cares deeply, about small businesses, about communities."</p><h2>When you have a part-time CEO, you need to be extremely disciplined</h2><p>Friar and Dorsey share the same end goal for Square, but the two have quite different management approaches. Then there's the added hurdle that <a href="http://uk.businessinsider.com/how-jack-dorsey-manages-his-time-as-ceo-of-both-twitter-and-square-2017-12">Dorsey spends the mornings at Twitter, and the afternoons at Square</a>. He's also unconventional, <a href="http://uk.businessinsider.com/twitter-ceo-jack-dorsey-does-vipassana-meditation-2018-1">recently completing a 10-day meditation that required total silence </a>- even Friar wasn't allowed to contact him.</p><p>According to Friar, Dorsey sticks to what he's good at - big vision, design, and then "getting out of the way."</p><p>A good example of Dorsey visioning, said Friar, was how Square's Cash app came about. The app lets people in the US send money without connecting to a bank account. The whole concept came about because Dorsey believed there was a need among <a href="https://www.bloomberg.com/news/articles/2017-08-03/dorsey-says-square-reaches-underbanked-with-financial-services">the "underbanked" population in the US</a>, who don't have access to normal financial services.</p><p>"Every once in the while, there's a major trend he sees," said Friar. "Our Cash app is a great example, where he said 'I believe there's something happening around the more consumer side of financing, there's more utility that can be offered to [underbanked] individuals.' Jack will see that vision, and adds tremendous value there."</p><p>Friar does not described herself as a visionary and, like many "doers," dislikes meditation - though she's promised Dorsey she'll try at least twice a month. While studying at Oxford university, Friar was a rower, taking the seven seat in a team of eight. There's an apt parallel here: the seven seat sits behind the rower who sets the pace, and conveys that pace to the rest of the team.</p><p>"Our balance with one another is that if Jack can see the vision, then he will push to me and the rest of the team to really execute," Friar said. "Part of that is - how do you break down a vision into tactics that allow you to really operationalise things? If you're going to build a big company, you can't stick things together with band-aid and duct tape, you need to make sure internally there's a lot of discipline."</p><p>She said translating Dorsey's vision into something tangible sometimes meant pushing people to hit ambitious targets:</p><p style="padding-left: 30px;">"Some of it is setting targets - how do you take a vision and turn that into topline goals that really press people into going beyond what feels possible? It goes back to being the best CFO in the world. If you look at Square, we're a company that in 2017 will do approximately $1 billion in adjusted revenue, the midpoint of our guidance is around the $970 million range. And we're still growing at over 40%. Last quarter we grew 45% year over year. If you looked at the funnel of public companies doing $1 billion in revenue and growing over 40%, there's only six listed outside China, of which Square is one."</p><p>That kind of growth puts Square in a similar category to Tesla, Facebook, and Nvidia.</p><p>"It's totally rarefied air," said Friar.</p><p>Apart from setting ruthless financial goals, Friar has to be strict about spending money within Square.</p><p>One example is avoiding the "peanut butter spread" problem.</p><p>"That's where we have $100, so everyone gets $1," Friar explained. "That's horrible resource allocation. For most startups, one person will get $75, another person $25, then you'll cut off the other things.</p><p>"That's always a tough conversation. That's where if the CFO is hyper popular in your company, you probably have the wrong CFO. You work to be respected, not liked. If you drive yourself on being liked, you won't make the tough decisions."</p>   <p class="tagline"><div id="categorypromo" style="border:1px solid silver; min-height:90px; padding:10px;vertical-align:top;"><a href="http://www.businessinsider.com/intelligence/top-trends-money2020?IR-T"><img src="https://static-bii.businessinsider.com/image/59fb32ed4d05ac20008b5887-480" style="margin-right:15px;width:75px;float:left !important;" /></a><strong>EXCLUSIVE FREE REPORT:</strong><br>Top trends from this year's Money20/20 by the BI Intelligence Research Team.<br><strong><a href="http://www.businessinsider.com/intelligence/top-trends-money2020?IR-T">Get the Report Now »</a></strong><script src="//load.sumome.com/" data-sumo-site-id="ad2d02bb34b81e60382fbf1fd2c2e4d9230918d0b8ccae68c9d7bac17d286fa5" async="async"></script></br></br></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/10-inventions-helping-save-planet-2018-1">These inventions will help save the earth</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/piJSQGvo-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

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