Description: Twitter founder Jack Dorsey speaks about his latest project and his original: the site that started a revolution.
Date: March 21, 2013
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Payments company Square is different from many consumer technology startups in that many businesses use the service all day for retail transactions in brick-and-mortar locations.
The transactions are critical to these businesses and have to work in many different situations in the “real world.” So Square’s multi-tiered testing program is a key part of its development process for its hardware and software.
The quickly growing payments company, headed by Twitter cofounder Jack Dorsey, last year announced a major deal with Starbucks and raised a major funding round valuing the company at $3.25 billion. Behind that growth is an in-depth testing program with small businesses to not only get feedback on new products but to keep Square connected with its merchants and learn about their most pressing business needs. While Square is ultimately used by consumers, Square’s essential customers are its merchants and the testing is an important part of its relationship with them.
Questions for discussion:
1. What is Square Technology and who are the target segments for this market ?
2. What is the business model for square technology and how does this technology make money (revenue model)?