Square COO Keith Rabois Departs Company

http://allthingsd.com/20130124/square-coo-keith-rabois-departs-company/?mod=tweet

by tuhin • 13 years ago

54 17 13 years ago

pbreit• 13 years ago

Pretty shocking. Although Square is well on its way, I think there is still a lot of good COO work to do. But I am definitely looking forward to what's up next for Keith (who clearly had a tremendous run at Square).

pclark• 13 years ago

didn't Sequoia just lose a partner?

kunle• 13 years ago

Greg McAdoo - whats the connection?

kapilkale• 13 years ago

Rabois seems moderately connected to Sequoia- they've shared in a ton of deals, given he's a prolific / selective angel & he and Sequoia partner Roelof Boetha both worked at PayPal.

Don't think there's a formal connection between him and McAdoo.

rdl2• 13 years ago

Wow, I had no idea they were processing $10b/yr (I thought it was <$1b/yr).

That's getting to the point where they make real money (maybe $50mm/yr?) and have a serious shot at profitability.

gsharma• 13 years ago

If my math is correct: 2.75% of $10B/yr = $275M/yr. Although they may not be charging 2.75% across whole $10B. I don't think Starbucks would pay 2.75%.

Negitivefrags• 13 years ago

Don't forget that the credit card companies get most of that.

prbuckley• 13 years ago

They have to give most of that to the credit card companies. I am not sure how much of the 2.75% they get to keep but I would guess less then half, maybe even only a quarter?

jkaljundi• 13 years ago

Paypal's Merchant Services net Total Payment Volume was $28 billion in Q4 2012, up 28 percent year over year. PayPal revenues for Q4 2012 were $1.54 billion, growing 24 percent year over year.

fghh45sdfhr3• 13 years ago

I am not surprised anymore. I was when I first saw their card reader at the tiny smoothie shop next door. And then again when the old guy with the hot dog cart also got one. But now if I hear Square is making $100b/yr I'll just think of those tiny business and say: Obviously.

Square COO Keith Rabois Departs Company

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