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Investment round puts Square value at $1 billion

By Laurie Bennett

June 29, 2011 at 9:47am

It’s a rare startup that can attract the high-powered board that Square has assembled.

Analyst Mary Meeker has joined the board after her venture firm, Kleiner Perkins, led a $100 million investment round that put the company’s value above $1 billion.

Among Meeker’s fellow board members: former Treasury Secretary Larry Summers, Sun Microsystems co-founder Vinod Khosla and former PayPal execs Roelof Botha and Keith Rabois.

Square was founded by Twitter Chairman Jack Dorsey. The company launched to the public just eight months ago.

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