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Square adds CFO, says it has 300 employees, handles $6B annually

June 13, 2012|By Salvador Rodriguez
  • Square has added a CFO and announced it now has 300 employees and handles $6 billion each year.
Square has added a CFO and announced it now has 300 employees and handles… (Square )

Square, the mobile payment start-up, announced it has hired a chief financial officer while also giving some metrics for the state of the company.

Sarah Friar, a former VP atsalesforce.com, was announced by Square as its chief financial officer Wednesday.

“Square was founded on a commitment to help people start and grow their business,” Friar said in a press release from the company. “I’m thrilled to join a company driving meaningful economic growth while revolutionizing the payment experience for consumers.”

Friar's hiring comes as the young company is rumored to be seeking another round of funding, which has become a little harder for tech companies recently, thanks to Facebook and its IPO.

But it isn't all bad in the world of Square.

The company also announced in its news release on Friar's hiring that it is now handling $6 billion in payments on an annualized basis. And Square also said its service is now being used by 1 million people and businesses.

That's quite a bit, and it's a good measure of how the company is doing, especially when other players are about to jump into its market, including PayPal and Groupon.

And one last bit of news was that the company has now grown from 80 to 300 employees -- among them some new VPs from other tech companies including PayPal, Apple and Tesla.

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