SquareSquare made its debut on the public markets yesterday. After settling on its much-commented-on offering price of $9 per share, which some took as a shot across the bow for unicorn startups, the Jack Dorsey-helmed payments firm surged more than 45 percent in its first day of trading, with its stock closing above $13.

Observers saw that strong initial start as buoying an uncertain tech market. At an investors’ panel at last month’s Street Fight Summit, Redpoint Ventures partner Satish Dharmaraj and First Round Capital partner Howard Morgan both indicated that there was a tightening in the venture capital market — particularly for growth-stage companies. “People are being more careful about valuations,” Morgan noted. It’s certainly possible to see the uproar about Square’s IPO pricing, which valued the company at $2.9 billion, less than half of the $6 billion valuation the company received in its last funding round, as an extension of that caution.

Then again, it’s a long game. Lots of


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Source: Street Fight