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Square's imminent IPO could leave its CEO spread thin
Payments start-up Square could file the first documents for its IPO in as little as two weeks, according to Fortune. The news comes packaged with two big unknowns.
Firstly, there are the macro-economic issues stemming mainly from fears over the stability of the Chinese economy and the prospect of the Federal Reserve raising interest rates before the year is out.
The second issue is how Square co-founder and CEO Jack Dorsey - who is interim CEO of Twitter, which he also co-founded - will handle running two public-listed companies.
As Fortune points out, an executive running two public firms is rare. Someone running two firms, when one is actually going through the process of an IPO, is rarer still.
Dorsey was a previously rumored to be a favorite for the full-time CEO gig at Twitter, but the company's board has since said it would only consider a full time CEO in a “position to make a full-time commitment to Twitter.”
What is certain is that Square will need to clarify Dorsey's commitments before hitting the road to raise money. Until then, the prospect of handling the workload of two public companies is going to make Jack is a very dull boy indeed.
Photo: George Redgrave