Is block a real company?

Block, Inc. (formerly Square, Inc. ) is a U.S. listed company founded by Jack Dorsey and Jim McKelvey in 2009. It is a financial technology conglomerate. The company reportedly serves 56 million users and 4 million businesses, and processes payments worth US$ 228 billion annually as of 2023.

What is block & how does it work?

Block is an overarching ecosystem of many businesses united by their purpose of economic empowerment, and serves many people—individuals, artists, fans, developers, and sellers. “We built the Square brand for our Seller business, which is where it belongs,” said Jack Dorsey, cofounder and CEO of Block.

Is block a new brand?

“We built the Square brand for our Seller business, which is where it belongs,” Dorsey, cofounder and CEO, said in a statement. “Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”