Square's Next Frontier: Dorsey Says Payment Company Heading Abroad

Tuesday, 10 Jul 2012 | 5:57 PM ET
Jack Dorsey
Photo by David A. Grogan for CNBC.com
Jack Dorsey

Mobile payments startup Square is going international.

Arriving Tuesday at the Sun Valley Lodge, co-founder Jack Dorsey told reporters the next frontier for the company, which develops a small, card-reading attachment that accepts payments anywhere, is outside the U.S. At present, the three-year old startup has offices in New York City and St. Louis, in addition to its headquarters in San Francisco.

Since Dorsey and Jim McKelvey founded Square in 2009, it's raised a total of $141 million in venture capital, according to Crunch Base. That money has come from the pockets of Google'sMarissa Mayer, FourSquare's Dennis Crowley and others. Its most recent financing came in the form of $3 million from Sir Richard Branson.

Though Square is Dorsey's most recent venture, he is widely credited as the creator of Twitter, where he remains chairman.

At 35, Dorsey is only five years older than Allen & Company's media conference, now 30 years strong. At this year's conference, Dorsey will be hosting a panel on innovation. When we asked for specifics, Dorsey said he had yet to discuss the content in detail with his fellow panelists.

-By CNBC's Kayla Tausche

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