All eyes in Silicon Valley are now looking cautiously at Jack Dorsey — but not because of Twitter. Square, the payments startup that Dorsey runs when he's not busy trying to save Twitter, revealed in a filing Friday that it plans to price its upcoming public offering at between $11-$13 per share. At the mid-point of that range, Square would have a market cap of just under $4 billion, which sounds like a win — until you remember that the company has reportedly had a private valuation of $6 billion only a year ago. It is effectively a "down round," as Gil Luria, an analyst with Wedbush,...
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