Square discloses IPO plans

Payments startup Square Inc. filed to go public Wednesday, even as it grapples with mounting financial losses and an unusual corporate structure that requires its founder to spend part of his day leading a larger technology company.

Known for its credit card readers that attach to mobile devices, Square is led by  Twitter Inc. co-founder and CEO Jack Dorsey.

In the filing, Square indicated it would offer up to  $275 million in stock. Last fall, the company was valued at $6 billion.

While Square's sales rose 54 percent last year to $850.2 million, it posted a net loss of $154.1 million.

Read more from the Wall Street Journal.