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Block Inc

Financial TechnologyFounded 2009
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Block Acquisitions

6

Major Deals Covered

$29.8B

Disclosed Deal Value

What are Block's biggest acquisitions?

Block's largest disclosed acquisition here is Afterpay for $29B in 2022. This page covers 6 major deals from 2014 to 2022, each with its price where disclosed and the reason behind it.

Major deals covered
6
Largest deal
Afterpay ($29B)
First deal
2014
Most recent
2022
CompanyYearPricePurpose
Afterpay2022$29.0BTo add buy now, pay later to both sides of the network: Afterpay at Square sellers' checkouts and inside Cash App, plus Afterpay's merchant base in Australia, the U.S. and the UK (as Clearpay). Announced in August 2021 at about $29 billion in stock, roughly a 30% premium.
TIDAL (majority stake)2021$297.0MTo build tools for musicians to get paid and sell to fans, with Jay-Z and other artist owners keeping stakes and Jay-Z joining Block's board.
Credit Karma Tax (now Cash App Taxes)2020$50.0MIntuit had to sell Credit Karma's tax business to win antitrust clearance for its Credit Karma purchase; Square bought it for $50 million in cash.
Verse2020UndisclosedBarcelona-based peer-to-peer payments app, bought in June 2020 on undisclosed terms to give Cash App a foothold in Europe.
Weebly2018$365.0MWebsite and online store builder with more than 625,000 paid subscribers, bought in cash and stock so Square sellers could sell online from the same inventory.
Caviar2014$90.0MRestaurant delivery service, bought to give Square restaurant sellers a delivery channel.
What companies has Block bought?
Major acquisitions by Block documented here include Afterpay (2022), Weebly (2018), TIDAL (majority stake) (2021), Caviar (2014) and Credit Karma Tax (now Cash App Taxes) (2020).
What is Block's most recent acquisition?
The most recent Block acquisition documented here is Afterpay, in 2022, for $29B.

Afterpay

2022

$29.0B

Why

To add buy now, pay later to both sides of the network: Afterpay at Square sellers' checkouts and inside Cash App, plus Afterpay's merchant base in Australia, the U.S. and the UK (as Clearpay). Announced in August 2021 at about $29 billion in stock, roughly a 30% premium.

Impact

Afterpay co-founder Nick Molnar became Block's head of sales in 2024, and Afterpay plans now run inside Cash App and Square. Because the price was paid in Block shares, which roughly halved before closing, existing shareholders bore the cost through dilution.

Outcome

Completed January 31, 2022. Still the most debated deal in Block's history, though post-purchase Afterpay and lending have become part of Cash App's growth.

Source →

TIDAL (majority stake)

2021

$297M

Why

To build tools for musicians to get paid and sell to fans, with Jay-Z and other artist owners keeping stakes and Jay-Z joining Block's board.

Impact

TIDAL never became a meaningful contributor. Its 'Direct Artist Payouts' scheme was discontinued in 2022.

Outcome

In November 2024 Block scaled back its TIDAL investment and cut product management and marketing roles there; TIDAL remains a small Block unit.

Source →

Credit Karma Tax (now Cash App Taxes)

2020

$50M

Why

Intuit had to sell Credit Karma's tax business to win antitrust clearance for its Credit Karma purchase; Square bought it for $50 million in cash.

Impact

Relaunched as free federal and state filing inside Cash App, which brings users back every tax season and pushes refunds into Cash App balances.

Outcome

One of Block's cheapest and most useful deals.

Source →

Verse

2020

Why

Barcelona-based peer-to-peer payments app, bought in June 2020 on undisclosed terms to give Cash App a foothold in Europe.

Impact

Verse was fined $250,000 by its license provider, the Bank of Lithuania, over anti-money-laundering deficiencies in 2023.

Outcome

In August 2023 Block began winding down some European operations, which reports said included Verse and parts of Clearpay; Cash App never launched in Europe.

Source →

Weebly

2018

$365M

Why

Website and online store builder with more than 625,000 paid subscribers, bought in cash and stock so Square sellers could sell online from the same inventory.

Impact

Became the base of Square Online.

Outcome

Merged into Square Online, with the transition completed by 2023.

Source →

Caviar

2014

$90M

Why

Restaurant delivery service, bought to give Square restaurant sellers a delivery channel.

Impact

Never a core business as DoorDash and Uber Eats scaled delivery.

Outcome

Sold to DoorDash in 2019 for $410 million in cash and preferred stock, a profitable exit.

Source →

Block Inc's Growth & Acquisition Strategy

Block's 2026 plan has four parts. Square is selling to larger and international sellers through a field sales team and independent sales organization partners; international GPV grew 28% in the second quarter of 2026. Cash App wants to be the main bank account for people with several income sources, using direct deposit and Cash App Green rewards status; primary banking actives reached 9.4 million in June 2026, up 17%. Lending is expanding through Borrow, Afterpay and Square Loans, all originated more cheaply now that Block's own bank handles Borrow. And Neighborhoods links Square sellers with nearby Cash App customers; it passed $1 billion of annualized seller GPV in June 2026. Bitcoin remains a long-term bet through Bitkey and Proto mining rigs, which began shipping in late 2025.

How Block Inc Makes Money

Block runs a two-sided network. On the seller side, Square charges a fee on each card payment (in the U.S. on its free plan, 2.6% plus 15 cents in person and 3.3% plus 30 cents online) and adds paid software, hardware, payroll, banking and Square Loans. On the consumer side, basic Cash App transfers are free; the app earns from Cash App Card interchange, instant transfer fees, Borrow short-term loans, Afterpay pay-in-four plans and the spread on bitcoin sales. Gross profit is the number management steers by: $10.36 billion in 2025, with Cash App contributing $1.83 billion and Square $993 million in the fourth quarter alone. The long-term aim is to connect both sides, so that a Cash App customer pays a Square seller through Cash App Pay, Afterpay or the Neighborhoods local rewards program and Block keeps the economics at both ends.

Block Acquisitions FAQ

What is Block's biggest acquisition?

Afterpay, agreed in August 2021 in an all-stock deal valued at about $29 billion and completed on January 31, 2022, after Block's share price had roughly halved.

Why did Block buy TIDAL?

To build payment and fan tools for musicians. It paid $297 million for a majority stake in 2021, with Jay-Z joining its board, then scaled back the investment in November 2024.

Why did Square buy Weebly?

To let sellers build online stores tied to their Square inventory. It paid $365 million in 2018, and Weebly became Square Online.

What happened to Caviar?

Square bought the restaurant delivery service in 2014 and sold it to DoorDash in 2019 for $410 million in cash and preferred stock.

Where did Cash App Taxes come from?

Square bought Credit Karma Tax for $50 million in 2020, when Intuit had to sell it to win clearance for its Credit Karma purchase.

Did Block buy a European payments app?

Yes, Barcelona-based Verse in June 2020, on undisclosed terms. Block began winding down some European operations in 2023.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.