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It's a great idea with a great team behind it and this is a huge win on the biz dev side. Congrats to the guys.

One inconsistency from the TC post though:

> ... announcing that it is processing $1 million in payments per day

vs

> COO Keith Rabois told us in January that the startup is expected to process $40 million in transactions in Q1 of 2011 ...

There are more than 40 days in Q1, even if you limit it just to business days. I'm confused.

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The reason the projection for Q1 was only 40M is because it wasn't until March that Square reached the 1M/day milestone (http://techcrunch.com/2011/03/02/square-now-processing-1-mil...).

So in January and February they were doing less than 1M per day.

It sounds like to me that they expect to process in total 40 million during Q1, but they could process up to 1 million in a single day? Clarification would be nice in the article .

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