Square, Inc. Changes Name to Block
Square, Inc. (NYSE: SQ) announced today that it is changing its name to Block. Block will be the name for the company as a corporate entity. The Square name has become synonymous with the company’s Seller business, which provides an integrated ecosystem of commerce solutions, business software, and banking services for sellers, and this move allows the Seller business to own the Square brand it was built for.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211201006139/en/
Block logo in white
The change to Block acknowledges the company’s growth. Since its start in 2009, the company has added Cash App, TIDAL, and TBD54566975 as businesses, and the name change creates room for further growth. Block is an overarching ecosystem of many businesses united by their purpose of economic empowerment, and serves many people—individuals, artists, fans, developers, and sellers.
“We built the Square brand for our Seller business, which is where it belongs,” said Jack Dorsey, cofounder and CEO of Block. “Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”
The name change to Block distinguishes the corporate entity from its businesses, or building blocks. There will be no organizational changes, and Square, Cash App, TIDAL, and TBD54566975 will continue to maintain their respective brands. A foundational workforce, which includes teams such as Counsel, People, and Finance, will continue to help guide the ecosystem at the corporate level. As a result of the name change, Square Crypto, a separate initiative of the company dedicated to advancing Bitcoin, will change its name to Spiral.
The name has many associated meanings for the company — building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome.
Square, Inc. is referred to as “Block” in this press release. The legal name “Square, Inc.” is expected to be legally changed to “Block, Inc.” on or about December 10, 2021, upon satisfying all applicable legal requirements. The company’s NYSE ticker symbol “SQ” will not change at this time. Any changes in the future will be publicly disclosed. No action is needed from current stockholders. The Company’s Class A common stock will continue to be listed on NYSE and the CUSIP will not be changing.
For more information, please visit www.block.xyz or follow company news via Twitter @blocks and @blockIR. For media assets, go to www.block.xyz/mediakit. We intend to use the Block investor relations website as well as the Twitter accounts @blocks and @blockIR as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.
Block (NYSE: SQ) is a global technology company with a focus on financial services. Made up of Square, Cash App, Spiral, TIDAL, and TBD54566975, we build tools to help more people access the economy. Square helps sellers run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. With Cash App, anyone can easily send, spend, or invest their money in stocks or Bitcoin. Spiral (formerly Square Crypto) builds and funds free, open-source Bitcoin projects. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD54566975 is building an open developer platform to make it easier to access Bitcoin and other blockchain technologies without having to go through an institution.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Vending Machines International Secures SGD 135 Million Capital Commitment From Global Emerging Markets (GEM) as Company Seeks to Go Public26.1.2022 05:02:00 CET | Press release
Vending Machines International (VMI), today announced a SGD 135 Million capital commitment from GEM Global Yield LLC SCS ("GGY"), the Luxembourg-based private alternative investment vehicle. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220125006251/en/ (Photo: Business Wire) Under the agreement, GGY will provide VMI with a Share Subscription Facility of up to SGD 135 million for a 36-month period following a public listing of VMI’s common stock. VMI will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation. “VMI is very pleased to be selected by the GEM Group to receive this investment. It is a credit to the GEM management that they very quickly grasped that the world is moving to remove single use plastics from the supply chain. VMI is extremely well placed to take advantage of this transition. With GEM’s funds to strengthen the VMI balance sheet VMI will be able to
Private Messaging App Launches on Quantum Resistant, Decentralized xx network25.1.2022 16:30:00 CET | Press release
The world’s first quantum-resistant messaging app, xx messenger, launched on the xx network today. xx messenger allows users to communicate in real time through hundreds of decentralized nodes operating worldwide. The app is available for download on IOS and Android, features group chat as well as photo and audio sharing, and designed for easy use and switching to from legacy messaging apps. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220125005773/en/ David Chaum (Photo: Business Wire) Unlike existing messaging apps, xx messenger uses quantum-resistant cryptography to protect message content from decoding and cMix software to obfuscate or shred metadata—information about who sends, when they send, where they send from, and who receives. Randomly selected teams of xx nodes encrypt anonymity sets of 1,000 messages, which are then repeatedly shuffled and have also been encrypted using quantum-resistant cryptography. Informat
MDSLink Makes MaGiC™25.1.2022 16:00:00 CET | Press release
In response to the fiber buildout worldwide, and the continuous demand for reliable bandwidth, MDSLink, Inc. is now offering MaGiC™, a very high-performance, networking module that uses the existing coax. MaGiC is a cost-effective, easy-to-install module that extends the fiber footprint found in MDUs, single-family homes, hotels/resorts and offices or any building with existing coax. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220125005534/en/ MaGiC Small Form Factor Pluggable (Photo: Business Wire) MaGiC-SFP 2.5™ (Multi-Gigabit Coax Small Form-factor Pluggable) provides up to 2.5 Gbps—symmetrical—actual data rates when plugged into an Ethernet network (SFP/SFP+ port). Applications: - Last 100-meter distribution using existing, in-building coax. - Wireless AP backhaul in-premise. Supplements in-home Wi-Fi® mesh networks using fail safe, wireline backhaul between devices. Using WAPs with SFP-ports, operators can backhaul t
Kroll Unifies Brand to Reflect Strategic Growth and Vision25.1.2022 16:00:00 CET | Press release
Kroll, the leading provider of data, technology and insights related to risk, governance and growth, announces today the completion of its transition to a unified brand. Through its combined capabilities, Kroll is uniquely positioned to help clients stay ahead of complex business demands and opportunities across dynamic regulatory, economic and risk environments. “Our brand unification is a necessary evolution to deliver superior client service and meet and anticipate our clients’ increasingly complex and interconnected needs,” said Jacob Silverman, Chief Executive Officer of Kroll, “This marks the beginning of a new chapter for Kroll that reflects our market leadership across borders and disciplines, and embraces our proprietary data, technology and insights to create value and impact for our clients and communities.” Last year, the Company announced plans to unify its business following significant organic growth and strategic acquisitions. Kroll’s full suite of solutions now span se
Dr. Philip Krause to Provide Strategic Advice to Adjuvance25.1.2022 15:35:00 CET | Press release
Adjuvance Technologies Inc., a privately-held clinical-stage biopharmaceutical company developing next generation saponin adjuvants and vaccines for infectious disease and immuno-oncology, today announced that Philip Krause, MD, will take on a strategic consulting role with the organization as it advances its vaccine development portfolio. Dr. Krause recently served as the Deputy Director, Office of Vaccines Research and Review of the US Food and Drug Administration (FDA) Center for Biologics Evaluation and Research. “The deep scientific, regulatory and vaccine development experience that Phil brings to Adjuvance will be instrumental in efficiently developing our shingles vaccine candidate and our pipeline anchored on the next-generation saponin adjuvant TQL-1055,” noted Dr. Tyler Martin, Adjuvance CEO, President and Chairman. “I am thrilled to enhance the company’s expertise with such a well-respected scientist.” Dr. Krause previously had a 30-year career in the FDA where he made majo
Andersen Global Adds Member Firms in Croatia25.1.2022 15:30:00 CET | Press release
Andersen Global continues to cultivate a strong European presence as Croatian tax and advisory firm Andersen BD d.o.o. (formerly BD Savjetovanje d.o.o.) becomes the organization’s newest member firm to adopt the Andersen brand. Andersen Global also welcomes member firm KALLAY & PARTNERS, a Zagreb-based law firm and collaborating firm since 2019. Together, the member firms will provide complementary tax and legal solutions, demonstrating the unified and seamless approach of the global organization. “As tax and legal legislation globally becomes more complex, we aim to continue providing best-in-class service and help our clients navigate the various aspects of their business operations,” said Branka Topolovec new Managing Partner of Andersen in Croatia. “The adoption of the Andersen brand is a milestone for our firm’s growth and development and gives us a competitive advantage in the market by allowing us to provide our clients with a full suite of capabilities in Croatia as well as glo
UVD Robots Joins Ecolab’s Global Infection Prevention Offerings to Fight Hospital Acquired Infections25.1.2022 15:02:00 CET | Press release
As new coronavirus variants spread, the growth in demand for infection prevention solutions using UV-C light is projected to reach $18.94 billion by 2030, witnessing an annual growth rate of 59.7% from 2021 to 2030. Further fueling the demand is the rise in hospital acquired infections (HAIs) globally causing more fatalities due to the increase in antibiotic resistance from even simple infections. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220125005148/en/ Disinfecting hospitals with UV-C lights is not a new concept, however, existing solutions including UV ceiling lights, stationary cleaning robots, and air purifiers may not reach shadowed or remote areas as well as the mobile platform offered by the autonomous UVD Robots. (Photo: Business Wire) Autonomous UV-C disinfection robots have emerged as a solution to supplement standard cleaning and disinfection practices to address HAIs and heightened hygiene requirements due