Square Circles Around to Block

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Just one day after Jack Dorsey stepped down as CEO of Twitter&comma; he&&num;8217&semi;s already making big moves at his other company Square&period; Dorsey has decided to change the name of Square this week to Block&period;<&sol;p>&NewLine;<p>Block will be the new name for the company as Square has expanded beyond its original business model for helping sellers receive and manage payments from customers&period;<&sol;p>&NewLine;<p>The company’s NYSE ticker symbol &OpenCurlyDoubleQuote;SQ” will not change at this time&period;<&sol;p>&NewLine;<p>The change to Block acknowledges the company’s growth&period; Since its start in 2009&comma; the company has added Cash App&comma; TIDAL&comma; and Bitcoin service TBD54566975 as businesses&comma; and the name change creates room for further growth&period; Block is an overarching ecosystem of many businesses united by their purpose of economic empowerment&comma; and serves many people—individuals&comma; artists&comma; fans&comma; developers&comma; and sellers&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We built the Square brand for our Seller business&comma; which is where it belongs&comma;” said Jack Dorsey&comma; cofounder and CEO of Block&period; &OpenCurlyDoubleQuote;Block is a new name&comma; but our purpose of economic empowerment remains the same&period; No matter how we grow or change&comma; we will continue to build tools to help increase access to the economy&period;”<&sol;p>&NewLine;<p>The name change to Block distinguishes the corporate entity from its businesses&comma; or building blocks&period; There will be no organizational changes&comma; and Square&comma; Cash App&comma; TIDAL&comma; and TBD54566975 will continue to maintain their respective brands&period; A foundational workforce&comma; which includes teams such as Counsel&comma; People&comma; and Finance&comma; will continue to help guide the ecosystem at the corporate level&period; As a result of the name change&comma; Square Crypto&comma; a separate initiative of the company dedicated to advancing Bitcoin&comma; will change its name to Spiral&period;<&sol;p>&NewLine;<p>The company says the new name has many associated meanings for the company — building blocks&comma; neighborhood blocks and their local businesses&comma; communities coming together at block parties full of music&comma; a blockchain&comma; a section of code&comma; and obstacles to overcome&period;<&sol;p>&NewLine;<p>In October&comma; Facebook changed its company name to Meta Platforms and said it would also change its stock symbol from FB to MVRS next year&period;<&sol;p>&NewLine;