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Starbucks CEO Just Joined Square's Board

Starbucks, the giant coffee seller, just invested $25 million in Square, the San Francisco-based payments startup.

Starbucks is taking a small piece of that round. Square authorized $200 million in new shares at a valuation of $3.2 billion. The company didn’t say who—if anyone—is buying the rest of the new shares, but the New York Times reported that Rizvi Traverse Management, an investor in Playboy and Twitter, was leading the round.