Square Partners With Eventbrite: What Investors Need to Know
Investors in Square Inc (NYSE: SQ) have enjoyed a remarkable year. Shares in the innovative payment processing company are up a remarkable 152% over the past year, crushing the S&P 500's paltry-by-comparison 17% gains. Square's stock has skyrocketed as the market has witnessed its resounding success, growing its business quarter after quarter. In its most recently reported quarter, for instance, Square's gross payment volume increased 32% year over year to $16.4 billion and its adjusted revenue increased 41% to $240 million.
Square recently announced what should be another catalyst for its business: a strategic partnership with the event-planning platform, Eventbrite. As part of the agreement, Square will power all of Eventbrite's payment processing, including mobile, online, and in-person payments. Square also invested $25 million into Eventbrite.
Source: Fool.com
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