Mobile point-of-sale provider Square lost US$100m in 2013 but is making a 34% gross margin on its processing business, according to leaked internal documents seen by Fortune. “Its losses are largely the result of the heavy investment it is making in new products,” the report says.
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No crap, anyone on payments with connections has know Square has been F’ed for at least 5 months now.
And the smart ones knew they were screwed from the start.