Block

Block, Inc. (NYSE: SQ), formerly known as Square, is a financial technology company based in Oakland, California. Founded in 2009 by Twitter co-founder Jack Dorsey, Block provides a range of commerce and financial services products through its two main segments: Square and Cash App. The company went public in 2015 and changed its name from Square to Block in December 2021, reflecting its expansion beyond its original payment processing focus.

Block's product ecosystem includes:

• Square: Offers commerce solutions for businesses, including point-of-sale systems, payment processing, banking services, and business management software.

• Cash App: A mobile payment service that allows users to transfer money, invest in stocks and bitcoin, and use a linked debit card.

• Afterpay: A "buy now, pay later" platform acquired by Block in 2022.

• TIDAL: A music streaming platform for artists and fans.

• TBD: An open developer platform focused on decentralized finance.

• Spiral: Focuses on open-source Bitcoin development.

As of March 2024, Block reported 57 million monthly active users for Cash App. The company has focused on integrating Afterpay across its ecosystem since acquiring it in 2021. Block is also investing in Bitcoin-related initiatives, with CEO Jack Dorsey stating the company dedicates less than 3% of resources to Bitcoin projects but sees it as important for serving more people globally. In Q1 2024, Block raised its adjusted EBITDA forecast and reported continued growth in Cash App users and spending per user.