BackVinod Khosla leaves mobile payment company Square’s board
Vinod Khosla, who owns 17.3% stake in Square, will remain an adviser to the company's board
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Bengaluru Mobile payment company Square Inc. said director Vinod Khosla, the company’s second largest shareholder, had left its board ahead of its initial public offering (IPO).
Khosla will remain an adviser to Square’s board, the company said in a filing on Monday.
Khosla, who is the co-founder of Sun Microsystems, confirmed his departure in a tweet. He owns 17.3% stake in Square.
The company, headed by Twitter Inc. chief executive officer (CEO) Jack Dorsey, filed for an IPO on 14 October.
Square also reported a 49% jump in net revenue to $892.8 million for the nine months ended 30 September.
The company’s net loss widened to $131.5 million, or 88 cents per share, from $117.0 million, or 84 cents per share, a year earlier. Reuters
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