Mobile payments startup Square said Friday it will raise up to $403 million in its stock offering -- but it may be valued less on Wall Street than by private investors. The news could chill the surge in investment in tech startups that has led to a breed of "unicorns," with a value of at least $1 billion. Square, founded by Twitter's Jack Dorsey -- who is chief executive of both firms -- said in an updated regulatory filing it would sell 27 million shares in a range of $11 to $13 with an option to sell an additional four million shares depending on demand. The initial public offering (IPO) price range suggests a market value for Square of just over $4 billion --...
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