Earlier this week, Snapchat announced it had added a new feature, Snapcash, to its popular photo-sharing application. In the hopes of further monetizing the Snapchat platform, the company forged a partnership with Square, a widespread B2C payment service that Apple (AAPL) tried to acquire in early 2014 (click here to see how much Square turned down from Tim Cook).
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When $3 Billion Isn't Enough
Square, the first company to meaningfully integrate credit card point-of-sales services into mobile devices, has witnessed unquestionable success over the past five years. With a customer base in excess of 1 million businesses, Square processes about $30 billion in annual merchant sales; this translates to $900 million in revenue for the company.
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