(Reuters) – Square, the mobile payment start-up that counts former U.S. Treasury Secretary Lawrence Summers on its board of directors, has a new big-name backer: British billionaire Richard Branson. Branson has made a “multimillion” dollar investment in Square, according to a Square spokeswoman who declined to disclose the exact amount. Branson’s investment in Square follows [...]

Kabbage, Inc. said it secured $17 million of Series B funding in a deal led by Mohr Davidow Ventures. Existing investors BlueRun Ventures; David Bonderman, founder of TPG Capital; Warren Stephens, chief executive of Stephens Inc.; and the UPS Strategic Enterprise Fund participated in the round. Also part of the round were several individuals, including [...]

Mobile is finally coming into its own. Mobile startups are reaching scale, with revenue of sometimes $100 million or more. Facebook and Zynga, once tethered to the wired Internet, are seeing massive mobile traffic. And Internet radio service Pandora Media now gets more users from mobile devices than desktop computers, a reversal of the past [...]

(Reuters) – Twitter co-founders Biz Stone and Evan Williams plan to revive Obvious, the company they conceived years ago as a technology project incubator that eventually spawned Twitter.

Stone and Williams will continue to advise Twitter on strategic matters, but devote the lions’ share of their time to The Obvious Corporation, Stone told the Aspen Ideas Conference at the ski resort on Tuesday.

The pair, along with others such as Jack Dorsey, who now runs payments service Square, created the four-year-old website that allows users to send 140-character messages across the Internet. It has grown into a microblogging phenomenon used by celebrities and heads of state alike, hailed at times as a crucial tool in promoting

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SAN FRANCISCO, June 22 (Reuters) – Square, a start-up company seeking to change the way people pay for goods, has enlisted a board member who knows a thing or two about money. Former U.S. Treasury Secretary Lawrence Summers has joined the two-year-old San Francisco company’s board of directors, Square said on Wednesday. The move represents [...]

(Reuters) – Renowned venture capitalist Vinod Khosla is joining the board of Square, a company headed by Twitter co-founder Jack Dorsey that allows consumers to pay for goods using their mobile phones. Menlo Park, California-based Khosla Ventures led Square’s initial $10 million venture round in 2009 and participated in its second $27.5 million round this [...]

Keith Rabois has joined payment startup Square as general manager. He is an active angel investor in Silicon Valley, and previously held executive positions at Slide, LinkedIn and PayPal. Square is backed by investors like Khosla Ventures. www.squareup.com

Square, a payment service start-up, has launched with $10 million in venture backing from Khosla Ventures and a team of angel investors, Techcrunch reported. The company is already valued at $40 million.