Jack Dorsey co-founded TwitterTWTR +1.31%, one of the most valuable social media companies in the world. His second act, Square, is proving tougher.
Losses have eaten up a big chunk of the money the mobile-payments startup raised from high-profile investors such as Kleiner Perkins Caulfield & Byers, Khosla Ventures, Sequoia Capital and Rizvi Traverse.
Square representatives recently had acquisition talks with some of the company’s deeper-pocketed rivals. Earlier this month, it got a big credit facility from top Wall Street banks, led by Goldman Sachs
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