Square Denies PayPal Purchase Rumors

Mark Twain famously said “rumors of my death have been greatly exaggerated,” and though the statement is actually a slight misquote of a correction Twain once sent to a newspaper for his incorrectly run obituary, it is a sentiment that Square can likely relate to as yet another rumor of a potential buyer has come…and gone.  Again.

This time the suspected suitor was PayPal, fresh off its IPO announcement and widely watched for what its next series of moves will be.  While a single and ready to mingle PayPal buying Square was certainly the story the payments space wanted, it was not the sort of thing possible to wish into existence.

“FALSE: PayPal Is in ‘Early Talks’ to Acquire Square | Bank Innovation http://bankinnovation.net/2014/10/paypal-is-in-early-talks-to-acquire-square/ …” founder Jack Dorsey posted on Twitter, soon after a report emerged that PayPal is gearing up to purchase Square.

This is not Square’s first rumored acquisition rodeo–the company has fended off reports that it was been in talks with both Google and Apple for acquisition.  Insofar as Square remains unacquired one of two possibilities emerge–talks with Square breakdown often or rumors of their proposed acquisition by a tech giant may have been slightly exaggerated.