<i>None of Square’s existing investors sold stock in the IPO, with the float representing just 8% of the company’s outstanding shares.</i> [1]<p>Very small float. Seems like they structured the IPO to have minimal exit risk and to be a PR success rather than going for a higher starting price and capitalization. The &quot;Don&#x27;t worry we know there&#x27;s a bubble but we&#x27;re being realistic and the stock is a good buy&quot; strategy.<p>[1] <a href="http:&#x2F;&#x2F;fortune.com&#x2F;2015&#x2F;11&#x2F;18&#x2F;square-prices-ipo&#x2F;" rel="nofollow">http:&#x2F;&#x2F;fortune.com&#x2F;2015&#x2F;11&#x2F;18&#x2F;square-prices-ipo&#x2F;</a>