Square achieves higher revenue than Twitter
Square achieves higher revenue than Twitter
Crypto

Square achieves higher revenue than Twitter

By Eleonora Spagnolo - 8 Jan 2020

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Square has made more revenue than Twitter, both companies were founded by Jack Dorsey. This was revealed in a post by blogger Kevin Rooke, then shared by Austen Allred (CEO of the Lambda School educational project) on Twitter. 

Kevin Rooke’s post analyzes the profits generated by Airpods, Apple’s innovative earphones, which would be the business with one of the highest growth rates since 2016, the year of their launch. A business that generates a revenue of about $12 million, placing Airpods in fourth place in this ranking that includes the so-called “top tech companies”. Tesla of the visionary Elon Musk is in the lead, followed by Netflix and Uber

Square is in the top ten, in eighth position, ahead of Twitter, Snapchat and Spotify. Square would have achieved just under 5 million dollars in revenue.

Square aims to revolutionize the system of payments on mobile devices, making it easy and affordable for everyone. Inevitably, one of its ambitions is to spread the use of cryptocurrencies, and it is no coincidence that Square Crypto has a division for this purpose. 

Square Crypto’s key feature is “Cash App“, an app which allows users to buy Bitcoin but also to send money instantly. Bitcoin sales quickly proved to be a winning choice, rising from $30 million in the first quarter of 2019 to $125 million in the second quarter of 2019, partly due to the soaring price of Bitcoin during that period. 

Jack Dorsey has never made it a mystery that he’s a Bitcoin fan and, with Square Crypto, he aims to contribute to the spread of cryptocurrencies, which he says is “inevitable”. For this purpose, in June he invested in a special team dedicated to the spread of Bitcoin and Open Source projects in the crypto world. 

However, Jack Dorsey’s goals don’t stop at Square Crypto and Cash App. Quite the contrary, the CEO of Twitter and Square also wants to revolutionize social media, and for this reason, he is setting up a small independent team, called BlueSky, with the goal of creating a decentralized standard for social media. A team analogous to the one created for Square Crypto.

Eleonora Spagnolo
Eleonora Spagnolo

Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.

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