• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Square, Founded By Jack Dorsey, Will Be Known As Block Starting Dec 10

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
December 2, 2021
in Uncategorised
Share on FacebookShare on Twitter

Giant payments company Square, owned by founder and former CEO of Twitter has announced that it is changing its corporate name from Square to Block. The reason for the name change is quite similar to that of Facebook’s name change to Meta, as Square is expanding its business beyond its original credit card-reader business to focus on technologies such as blockchain which its founder seems to be crazy about.

According to the company’s announcement, the name change takes effect starting December 10. The company will, however, continue to trade under the ticker name “SQ” on the New York Stock Exchange (NYSE). The name change “acknowledges the company’s growth… and…creates room for further growth”, the company said in its announcement.

In a statement speaking about the decision, Square’s founder Jack Dorsey said that “We built the Square brand for our Seller business, which is where it belongs. Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”

Recently Facebook changed its corporate name to Meta explaining that the new name better reflects the company’s ambitions beyond social media; the new name encompasses the company’s drive into futuristic tech and other businesses that surpass the social media business that it started with. Like Meta, Square’s new name would reflect the company’s expansion beyond its card-reader business into technologies like blockchain. In fact, the name Block is said to come from blockchain.

On Monday this week, Square and Twitter’s Founder announced his decision to step down from the position of CEO, announcing Parag Agrawal as his replacement. “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders”, he said. He stepped down from his role as Twitter’s CEO to focus on Square and his drive for blockchain technology and cryptocurrencies.  In June while speaking at the Bitcoin 2021 conference, Jack Dorsey said that “If I were not at Square or Twitter, I’d be working on Bitcoin”. 

Founded in 2009, Square focuses on in-person payments and its card reader business and is one of the biggest digital payment platforms in the world. The company owns AfterPay, a buy-now-pay-later service as well as music streaming service Tidal founded by music magnate Jay-Z. It also has a crypto-focused business called TBD.

As part of the change, Square Crypto, a separate part of the company dedicated to crypto will be changing its name to Spiral, the company announced. The name Block “has many associated meanings for the company — building blocks, neighbourhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome”, the company said in its statement.

Related Posts:

  • Block, Formerly Square, Sees Its Shares Surge After Beating Wall Street's Estimates
    Block, Formerly Square, Sees Its Shares Surge After…
  • Jack Dorsey And Music Magnate Jay-Z Launch The Bitcoin Academy Aimed At Enhancing Financial Literacy
    Jack Dorsey And Music Magnate Jay-Z Launch The…
  • image-jack-dorseys-square-service-to-begin-beta-testing-for-apples-tap-to-pay-165433383667751
    Square To Begin Beta Testing Support For Apple's Tap To Pay
  • Meta Changes Its Ticker Symbol From "FB" To "META" As It Bids The Facebook Era A Final Goodbye
    Meta Changes Its Ticker Symbol From "FB" To "META"…
  • solar celebration
    Block's Remarkable Q3 Earnings Report Sparks Investor Frenzy
  • Bitcoin Conference Draws Cryptocurrency Fans To Miami
    Block Stock Soars 16% on Strong Earnings, Analyst Upgrades
  • twitter-payments
    Twitter Pay? Elon Musk Applies To Get Payment…
  • Meta Enlist Africa and other Continents to Access NFT Collectibles on Instagram.
    Meta Enlist Africa and other Continents to Access…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • MTN Launches MoMo Pay for Informal Payments Market May 22, 2025
    • 9mobile and MTN Lead Network Outages in May May 22, 2025
    • Spotify Sees Subscriber Growth from iOS Payment Changes May 22, 2025
    • OpenAI to Buy Jony Ive’s Hardware Startup in Silicon Valley Shakeup May 21, 2025
    • 5yrs After Its Last Appearance, Fortnite is Back in The US App Store May 21, 2025
    • Nigeria-Meta Standoff Threatens Small Business Operations May 21, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    Recent News

    MTN Launches MoMo Pay for Informal Payments Market

    MTN Launches MoMo Pay for Informal Payments Market

    May 22, 2025
    9mobile and MTN Lead Network Outages in May

    9mobile and MTN Lead Network Outages in May

    May 22, 2025
    Spotify Sees Subscriber Growth from iOS Payment Changes

    Spotify Sees Subscriber Growth from iOS Payment Changes

    May 22, 2025
    OpenAI to Buy Jony Ive’s Hardware Startup in Silicon Valley Shakeup

    OpenAI to Buy Jony Ive’s Hardware Startup in Silicon Valley Shakeup

    May 21, 2025
    5yrs After Its Last Appearance, Fortnite is Back in The US App Store

    5yrs After Its Last Appearance, Fortnite is Back in The US App Store

    May 21, 2025
    Nigeria-Meta Standoff Threatens Small Business Operations

    Nigeria-Meta Standoff Threatens Small Business Operations

    May 21, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok