An initial public offering (IPO) on the New York Stock Exchange (NYSE) of 31 million shares of Square Class A common stock on November 19, 2015, raised $279.5 million. Square provides proprietary card payment processing hardware and software and related commerce services for smartphones and tablets. The IPO valued the company at $3.20 billion, considerably less than what venture capital investors believed it was worth a year before. By December 4, Square’s stock price had grown from $9 per share to $12, increasing its market capitalization to $4.57 billion. Square had raised $488 million in ...