Square Inc.: Financing a Unicorn By September 2014, the payment-processing company Square Inc. had raised $371 million over five rounds of venture capital financing (Series A through D). It had been nearly five years since its first round VC funding, and the private equity firms that had invested in those early rounds would likely soon be pushing for an exit. Square had reportedly turned down an offer from Apple Inc. that was significantly below the $6 billion Square had been seeking. In need of cash to finance its unprofitable operations and fund its aggressive growth plans, Square began pursing a sixth, Series E found of VC financing of $150 million. Summary of Key Terms for Square's Series E Preferred Stock offering was sent to investors including Goldman Sachs Group Inc. and Sapphire Ventures LLC. It was now up to the potential investors to determine whether they could agree to terms proposed which represented the company's desired $6 billion valuation. - To start off, describe Square Inc.'s business model