square

Square's new $200M makes Dorsey a billionaire, report says

Square has once again raised a ton of money, closing a $200 million round of funding that will make CEO Jack Dorsey a certified paper billionaire, according to those watching the industry.

Although neither the company nor its lead investor -- little-known private equity firm Rizvi Traverse of Michigan -- would confirm the matter, news of the dollar figure has been swirling around today.

Rizvi Traverse other investments include Playboy, Facebook and Twitter, according to the company's Web site.

The funding, which is twice the amount the company raised last year, puts a valuation of $3.25 billion, an … Read more

iPad and Nexus 7 face off in torture test

I've been working the device torture beat here for a while, but this video of an iPad and Google Nexus 7 going head-to-head in drop and submersion tests almost gave me a full-blown case of DTSD (device trauma stress disorder).

Once again, the device warranty folks at SquareTrade subjected two devices to some low-level maiming to see which survives with the least damage and the iPad suffered the most battle scars, at least from the drops. … Read more

Square's next step: International expansion

Square, the mobile-payments startup that has made a big splash around the U.S., is looking to go overseas.

The company's chief executive, Jack Dorsey, told reporters yesterday at the Allen & Co. media conference in Sun Valley, Idaho, that Square is "going outside the U.S. soon." According to Bloomberg, which was first to report on the news, Dorsey didn't say where his company would be expanding. He also wouldn't say when it would happen.

Even without help from international efforts, Square has been growing quite rapidly and announced in March that it was … Read more

Why rugged cameras are not as rugged as you'd think

If you've ever read user reviews of rugged or waterproof cameras, you probably wouldn't think they could handle having a glass of water spilled on them, let alone a 33-foot dive in the ocean.

The fact is, however "rugged" a manufacturer says a camera is, whether it can survive such treatment has a lot to do with the user. Maybe too much.

For example, the top-rated Olympus Tough TG-1 iHS is marketed with some of the highest durability claims for a compact camera: waterproof down to 40 feet, shockproof up to a 6.6-foot drop, freezeproof to 14 degrees Fahrenheit, and crushproof up to a weight of 220 pounds. That sounds pretty great and it is, but there's a bunch of fine print that goes with that marketing message.… Read more

VC Fred Wilson: 'Mobile does not reward feature richness'

Fred Wilson states the obvious. "Web is flattish. But mobile is growing like a weed," he wrote in a recent post on his blog.

Smartphone subscriptions worldwide were about 700 million in 2011 and are expected to grow to an estimated 3 billion in 2017, according to a recent report from Ericsson (PDF). Add in mobile PCs and tablets with cellular connections, and the numbers grow from 850 million in 2011 to 3.8 billion in 2017.

But Wilson, a venture capitalist from Union Square Ventures, with investments in hot startups such as Foursquare, Tumblr, Twitter, and Zynga, … Read more

Google next up against Microsoft Surface

June is the perfect time for backyard barbecues, lemonade and tablet warfare:

Microsoft is taking tablets into its own hands with the Surface. And next week, so will Google. It's expected that Google will show off the Nexus tablet at its developers conference that begins next week. And some reports have Google's tablet launching in July -- which will likely be before the Surface hits stores.

The Surface boasts solid hardware, a kickstand and a cover that also serves as a keyboard. But how much will it cost? All we know is that the light version, using Windows … Read more

Square launches loyalty rewards program

After replacing credit-card machines, cash registers, and cash, Square is moving on to customer reward punch cards.

The company launched its loyalty rewards program feature today with updates to its Square Register and Pay with Square apps.

Square COO Keith Rabois said the new feature will helps merchants and customers forge a relationship without the need of a physical hole-punched card. Coupled with the seamless Pay With Square transaction, customers will only have to give their name to buy something, receive a receipt, and accumulate points automatically. The app will let customers know when they are due for that free … Read more

Why I had it all wrong about Boston's high-tech scene

CAMBRIDGE, Mass. -- I'm at a crowded tech schmoozefest, and Tim Rowe, the pied piper of local startups, is giving me a serious talking-to about my blase attitude toward the local tech industry.

"I'd like you to think about what you're saying and look at the facts," Rowe says with growing intensity. "I think you're going to see your perception and the facts don't add up."

No startup culture? Look around here in the Cambridge Innovation Center in Kendall Square, ground zero for New England startups, Rowe says. There are about … Read more

Foursquare gets a face-lift

Foursquare offers a new interface in version 5 that has been completely reworked to a much cleaner design so you can get to what you want quickly using only three tabs across the bottom of the screen (the former design had five buttons across the bottom). The Friends tab (which used to be only about checking in) now offers big photos you can swipe to browse along with tips, lists, and places your friends have saved. From here you can "Like" or comment on activity by touching a button for each. The new layout seems much better organized … Read more

Intuit revs up GoPayment, a rival to Square

In a bid to further integrate cloud-based platforms with its more conventional offerings, Intuit said yesterday that it plans to combine QuickBooks Point of Sale, its offering for retailers, with its 3-year-old mobile-only GoPayment platform.

If you're unfamiliar with GoPayment, it's a service that allows small and medium-sized vendors to process debit or credit cards using an Apple iPhone -- no proprietary point-of-sale hardware necessary. The app and hardware are free, and Intuit makes its money from transactions (2.7 percent per swipe) or a monthly membership fee ($12.95/mo.) of sorts.

It's the kind of … Read more