Square Starts 2011 with A New Round At A Big Valuation

While much of Silicon Valley spent the last two weeks skiing or otherwise reveling in all that money made this year from acquisitions, partial liquidations and secondary deals, Square founder Jack Dorsey was apparently hard at work. TechCrunch has learned that Square is in the process of closing a large round of funding. The company is being valued, we hear from multiple sources, at somewhere close to $200 million. We don't have confirmation on who did it, but we hear that Sequoia Capital was in the mix to lead this round, along with previous investor Khosla Ventures, Benchmark Capital and Kleiner Perkins. Our sources say Sequoia ended up on top and will lead the round. A strategic investor is also likely to invest, sources say. Someone like Visa, Mastercard, or American Express.

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