Known by the name of its namesake product, Square, until the end of 2021, financial services and digital payments company Block has changed how people buy and sell in their everyday lives. The company has driven innovation in multiple fields, supporting new hardware and software products for Square as well as Cash App, Afterpay, Weebly, and music streaming service Tidal. The company was started by Jack Dorsey and Jim McKelvey in 2009, born out of an inability to conduct simple transactions involving credit cards. Since that time, Block has provided payment support for billions of dollars in transactions, generating over $17.6 billion in revenue for the company in 2021 alone.
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Throughout 2022 we continued to advance our purpose of economic empowerment across Square, Cash App, Spiral, TIDAL, and TBD. This Corporate Social Responsibility Report offers a look into our commitments and progress towards becoming a more inclusive and sustainable company, including more information on our efforts to drive financial inclusion, foster a diverse workforce, and enhance our sustainability initiatives. At Block we believe our purpose of economic empowerment is critical for the customers we serve, including business owners, consumers, artists, fans, and developers. This purpose is the foundation of our work across our building blocks, and informs how we run our company, make commitments, and support policies as a company. Block aims to ensure our central purpose and work aligns with the United Nations’ key pillars of sustainability. These development goals serve as a collective call to action for the global community to drive towards a healthy, equitable, and more inclusive future. With its seamless Savings functionality, Square has already helped its sellers set aside more than $100M in savings to help with specific goals and priorities, like paying taxes or buying new equipment. In September 2022, we announced that Square’s entire ecosystem of more than 35 products and services is now available in Spanish to sellers in the U.S.