Square IPO postponed indefinitely

Square, the mobile payments startup created by Twitter founder Jack Dorsey, has postponed its initial public offering indefinitely, Fox News reports.

People with knowledge of Square’s finances have indicated that the company is not ready to go public this year.

Square had reportedly been discussing a 2014 IPO and met with Nasdaq executives as recently as the fourth quarter of 2013.

Fox News reports people close to Square have indicated the company's revenue run rate, a key projection of future performance, is having problems.

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