THE_AT0 PANDEMIC_AJ0 could_VM0 have_VHI been_VBN a_AT0 jarring_AJ0 setback_NN1 for_PRP Square_NP0 ._SENT Cofounded_NP0 in_PRP 2009_CRD by_PRP CEO_NN1 Jack_NP0 Dorsey_NP0 —_PUN also_AV0 ,_PUN of_PRF course_NN1 ,_PUN famously_AV0 the_AT0 cofounder_NN1 and_CJC CEO_NN1 of_PRF Twitter_NN1 —_PUN the_AT0 company_NN1 is_VBZ perhaps_AV0 best_AV0 known_VVN for_PRP its_DPS distinctive_AJ0 ,_PUN white_AJ0 credit-card_NN1 readers_NN2 that_CJT make_VVB it_PNP easy_AJ0 for_PRP small_AJ0 businesses_NN2 to_PRP process_NN1 payments_NN2 from_PRP a_AT0 smartphone_NN1 or_CJC tablet_NN1 ._SENT Square_NP0 barreled_VVD into_PRP 2020_CRD with_PRP powerful_AJ0 momentum_NN1 ,_PUN with_PRP its_DPS sales_NN0 having_VHG soared_VVN 43_CRD %_NN0 in_PRP the_AT0 previous_AJ0 12_CRD months_NN2 ._SENT But_CJC the_AT0 lockdowns_NN2 that_CJT began_VVD last_ORD March_NP0 as_PRP COVID-19_AJ0 spread_NN1 across_PRP the_AT0 U.S._NP0 dealt_VVD a_AT0 devastating_AJ0 blow_NN1 to_PRP Square_NP0 's_POS core_NN1 customers_NN2 :_PUN mom-and-pop_NN1 businesses_NN2 ._SENT 
With_PRP one_CRD business_NN1 line_NN1 under_PRP mortal_AJ0 threat_NN1 ,_PUN Dorsey_NP0 and_CJC his_DPS team_NN1 had_VHD another_DT0 innovation_NN1 ready_AJ0 that_CJT was_VBD made_VVN for_PRP the_AT0 moment_NN1 —_PUN the_AT0 Cash_NN1 App_NP0 payment_NN1 service_NN1 ._SENT 
Created_VVN to_TO0 compete_VVI with_PRP the_AT0 likes_NN2 of_PRF PayPal_NP0 ,_PUN PayPal-owned_NP0 Venmo_NP0 ,_PUN and_CJC Apple_NN1 Pay_NN1 ,_PUN among_PRP others_NN2 ,_PUN Cash_NP0 App_NP0 exploded_VVD in_PRP popularity_NN1 thanks_NN2 to_PRP capabilities_NN2 that_CJT other_AJ0 digital_AJ0 wallets_NN2 could_VM0 n't_XX0 match_VVI ._SENT Because_CJS Cash_NP0 App_NP0 allows_VVZ direct_AJ0 deposits_NN2 ,_PUN many_DT0 users_NN2 had_VHD their_DPS stimulus_NN1 checks_NN2 sent_VVN straight_AV0 to_PRP their_DPS Cash_NN1 App_NP0 accounts_NN2 ._SENT And_CJC the_AT0 fact_NN1 that_CJT the_AT0 digital_AJ0 wallet_NN1 allows_VVZ users_NN2 to_TO0 trade_VVI Bitcoin_AJ0 and_CJC fractional_AJ0 shares_NN2 of_PRF stocks_NN2 meant_VVD that_CJT Cash_NP0 App_NP0 was_VBD in_PRP a_AT0 perfect_AJ0 position_NN1 to_PRP ,_PUN ahem_ITJ ,_PUN cash_VVB in_PRP when_AVQ cryptocurrency_NN1 prices_NN2 and_CJC day_NN1 trading_NN1 took_VVD off_AVP ._SENT By_PRP December_NP0 ,_PUN Cash_NP0 App_NP0 had_VHD more_AV0 than_CJS 36_CRD million_CRD active_AJ0 monthly_AJ0 users_NN2 ,_PUN or_CJC a_AT0 50_CRD %_NN0 gain_NN1 in_PRP one_CRD year_NN1 ._SENT 
Square_NP0 rode_VVD Cash_NP0 App_NP0 's_POS success_NN1 to_PRP explosive_AJ0 sales_NN0 growth_NN1 —_PUN and_CJC its_DPS first-ever_AJ0 spot_NN1 on_PRP the_AT0 Fortune_NN1 500_CRD ,_PUN at_PRP No._NN1 323._CRD For_PRP the_AT0 year_NN1 ,_PUN its_DPS revenue_NN1 jumped_VVD by_PRP just_AV0 over_PRP 100_CRD %_NN0 ,_PUN to_PRP $_NN0 9.5_CRD billion_CRD ._SENT And_CJC its_DPS shareholders_NN2 were_VBD rewarded_VVN with_PRP a_AT0 nearly_AV0 250_CRD %_NN0 return_NN1 for_PRP 2020._CRD That_DT0 propelled_VVD its_DPS market_NN1 value_NN1 from_PRP $_NN0 20_CRD billion_CRD last_ORD March_NP0 to_PRP $_NN0 100_CRD billion_CRD by_PRP year_NN1 's_POS end_NN1 ._SENT 
Not_XX0 every_AT0 company_NN1 on_PRP this_DT0 year_NN1 's_POS Fortune_NN1 500_CRD can_VM0 match_VVI Square_NP0 's_POS performance_NN1 ,_PUN of_PRF course_NN1 ._SENT Most_DT0 ca_VM0 n't_XX0 come_VVI close_AV0 ._SENT But_CJC in_PRP a_AT0 couple_NN1 of_PRF significant_AJ0 ways_NN2 ,_PUN the_AT0 story_NN1 of_PRF Square_NP0 is_VBZ emblematic_AJ0 of_PRF the_AT0 500_CRD in_PRP 2020_CRD overall_AJ0 :_PUN First_ORD ,_PUN the_AT0 world_NN1 became_VVD even_AV0 more_AV0 digital_AJ0 —_PUN and_CJC fast_AV0 ._SENT And_CJC second_ORD ,_PUN new_AJ0 technologies_NN2 suddenly_AV0 broke_VVD through_AVP and_CJC achieved_VVD tremendous_AJ0 scale_NN1 ._SENT That_DT0 potent_AJ0 combination_NN1 of_PRF trends_NN2 has_VHZ opened_VVN up_AVP vast_AJ0 new_AJ0 opportunities_NN2 for_PRP businesses_NN2 that_CJT can_VM0 quickly_AV0 adapt_VVI to_PRP a_AT0 world_NN1 of_PRF rewritten_AJ0 rules_NN2 ._SENT Call_VVB it_PNP the_AT0 Great_AJ0 Reimagining_NN1 ._SENT 
The_AT0 examples_NN2 range_NN1 from_PRP the_AT0 everyday_AJ0 to_PRP the_AT0 extraordinary_AJ0 ._SENT Think_VVB of_PRF Chewy_NP0 ,_PUN the_AT0 online_AJ0 pet_NN1 supply_NN1 business_NN1 (_PUL recently_AV0 split_VVN off_AVP from_PRP retailer_NN1 PetSmart_NP0 )_PUR which_DTQ grew_VVD sales_NN0 47_CRD %_NN0 last_ORD year_NN1 to_TO0 join_VVI the_AT0 list_NN1 for_PRP the_AT0 first_ORD time_NN1 at_PRP No._NN1 403_CRD ,_PUN as_CJS homebound_AJ0 puppy_NN1 owners_NN2 ordered_VVD pee_NN1 pads_NN2 from_PRP their_DPS phones_NN2 ._SENT Or_CJC Pfizer_NP0 ,_PUN No._NN1 77_CRD ,_PUN which_DTQ partnered_VVD with_PRP German_AJ0 biotechnology_NN1 company_NN1 BioNTech_NN1 to_TO0 develop_VVI a_AT0 vaccine_NN1 for_PRP COVID-19_NN1 in_PRP record_NN1 time_NN1 ,_PUN thanks_NN2 to_PRP its_DPS revolutionary_AJ0 approach_NN1 of_PRF using_VVG messenger_NN1 RNA_NN1 to_TO0 create_VVI an_AT0 immune_AJ0 response_NN1 —_PUN opening_VVG up_AVP endless_AJ0 possibilities_NN2 for_PRP synthetic_AJ0 biology_NN1 ._SENT 
That_DT0 's_VBZ not_XX0 to_TO0 say_VVI that_CJT there_EX0 was_VBD n't_XX0 plenty_PNI of_PRF economic_AJ0 pain_NN1 last_ORD year_NN1 ._SENT A_AT0 total_NN1 of_PRF 108_CRD companies_NN2 on_PRP this_DT0 year_NN1 's_POS 500_CRD list_NN1 lost_VVD a_AT0 combined_AJ0 $_NN0 224_CRD billion_CRD —_PUN the_AT0 biggest_AJS loss_NN1 since_PRP the_AT0 Great_AJ0 Recession_NN1 ._SENT Energy_NN1 ,_PUN hotels_NN2 ,_PUN airlines_NN2 ,_PUN and_CJC restaurants_NN2 were_VBD all_AV0 hit_VVN hard_AJ0 ._SENT But_CJC the_AT0 strength_NN1 of_PRF tech_NN1 —_PUN sector_NN1 revenue_NN1 grew_VVD by_PRP $_NN0 94_CRD billion_CRD —_PUN served_VVN as_PRP a_AT0 buoy_NN1 ._SENT Overall_AV0 ,_PUN the_AT0 Fortune_NN1 500_CRD 's_POS sales_NN0 fell_VVD by_PRP 3.1_CRD %_NN0 to_PRP $_NN0 13.8_CRD trillion_CRD ,_PUN which_DTQ was_VBD still_AV0 the_AT0 second_ORD biggest_AJS total_NN1 in_PRP the_AT0 history_NN1 of_PRF the_AT0 list_NN1 ._SENT And_CJC the_AT0 U.S._NP0 economy_NN1 's_POS booming_AJ0 6.4_CRD %_NN0 growth_NN1 in_PRP the_AT0 first_ORD quarter_NN1 of_PRF 2021_CRD suggests_VVZ that_CJT the_AT0 500_CRD could_VM0 be_VBI reaching_VVG new_AJ0 highs_NN2 as_CJS soon_AV0 as_CJS next_ORD year_NN1 ._SENT 
FOR_PRP COMPANIES_NN2 seeking_VVG to_TO0 lean_VVI into_PRP that_DT0 growth_NN1 and_CJC build_VVB on_PRP it_PNP ,_PUN there_EX0 is_VBZ widespread_AJ0 understanding_NN1 that_CJT returning_VVG to_PRP a_AT0 pre-pandemic_AJ0 approach_NN1 to_PRP digital_AJ0 transformation_NN1 wo_VM0 n't_XX0 cut_VVI it_PNP ._SENT That_DT0 lesson_NN1 was_VBD driven_VVN home_AV0 as_CJS consumers_NN2 changed_VVD overnight_AV0 how_AVQ ,_PUN where_AVQ ,_PUN and_CJC why_AVQ they_PNP buy_VVB things_NN2 ,_PUN and_CJC plunged_VVD headlong_AV0 into_PRP using_VVG brand-new_AJ0 technologies_NN2 ._SENT 
"_PUQ What_DTQ CEOs_NN2 suddenly_AV0 realized_VVD ,_PUN "_PUQ says_VVZ Jeff_NP0 Wong_NP0 ,_PUN global_AJ0 chief_AJ0 innovation_NN1 officer_NN1 at_PRP EY_ITJ ,_PUN "_PUQ is_VBZ that_CJT they_PNP need_VVB to_TO0 accelerate_VVI all_DT0 that_DT0 transformation_NN1 that_CJT they_PNP had_VHD planned_VVN on_AVP from_PRP before_AV0 but_CJC had_VHD n't_XX0 quite_AV0 executed_VVN against_PRP ._SENT "_PUQ Continues_VVZ Wong_NP0 :_PUN "_PUQ I_PNP think_VVB what_DTQ we_PNP 're_VBB seeing_VVG is_VBZ that_CJT it_PNP 's_VBZ actually_AV0 accelerating_AJ0 as_CJS we_PNP come_VVB out_AVP of_PRF this_DT0 pandemic_AJ0 ._SENT "_PUQ 
Consider_VVB that_CJT a_AT0 recent_AJ0 survey_NN1 of_PRF more_AV0 than_CJS 300_CRD CEOs_NN2 of_PRF big_AJ0 companies_NN2 conducted_VVN by_PRP EY_ITJ found_VVD that_CJT 65_CRD %_NN0 of_PRF them_PNP plan_VVB to_TO0 spend_VVI more_AV0 investing_VVG in_PRP transformation_NN1 over_PRP the_AT0 next_ORD three_CRD years_NN2 than_CJS they_PNP did_VDD in_PRP the_AT0 past_AJ0 three_CRD ._SENT And_CJC 68_CRD %_NN0 say_VVB they_PNP 're_VBB planning_VVG a_AT0 major_AJ0 investment_NN1 in_PRP data_NN0 technology_NN1 ._SENT 
Square_NP0 is_VBZ certainly_AV0 not_XX0 slowing_VVG down_AVP ._SENT Over_PRP the_AT0 first_ORD three_CRD months_NN2 of_PRF 2021_CRD ,_PUN sales_NN0 at_PRP Dorsey_NP0 's_POS company_NN1 were_VBD 266_CRD %_NN0 higher_AJC than_CJS those_DT0 from_PRP the_AT0 same_DT0 quarter_NN1 last_ORD year_NN1 ._SENT Square_NP0 also_AV0 introduced_VVD new_AJ0 features_NN2 to_PRP Cash_NP0 App_NP0 ,_PUN including_PRP the_AT0 capability_NN1 for_PRP users_NN2 to_TO0 send_VVI Bitcoin_NN1 to_PRP friends_NN2 or_CJC family_NN1 for_PRP free_AJ0 ._SENT A_AT0 year_NN1 or_CJC two_CRD ago_AV0 ,_PUN making_VVG that_DT0 kind_NN1 of_PRF transaction_NN1 happen_VVB so_AV0 easily_AV0 might_VM0 have_VHI seemed_VVN unimaginable_AJ0 ._SENT Not_XX0 anymore_AV0 ._SENT 
