Square: Path to IPO
Jack Dorsey is the first founder to be featured in two EquityZen Path to IPO infographics, having previously led Twitter to the public markets in 2013. Square's IPO wasn't without drama, however: the $9 share price was 42% lower than their previous round of financing, and required the company to issue extra shares to Series D and Series E investors as part of an "IPO ratchet" provision.
Square: Path to IPO

Calculations are based on shares outstanding. Explain

Companies analyzed in the Path to IPO are chosen on the basis of interest to the investing public and are not necessarily those in which transactions have been completed on the EquityZen platform. An investment through EquityZen is not an investment in a primary funding round; accordingly it is unlikely that an investment through EquityZen will perform similarly to the primary funding rounds highlighted in the Path to IPO. Most private companies are not successful enough to have an IPO, and many successful private companies may elect to not have an IPO. Investing in a private company through EquityZen may result in a partial or complete loss of your investment.

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