Square has acquired San Francisco-based food delivery service Caviar. No financial terms were disclosed. Caviar’s backers included Tiger Global Management, Andreessen Horowitz and Paul Buchheit.
SAN FRANCISCO – August 4, 2014 – Today Square announced that it has acquired Caviar, a rapidly growing company that allows buyers to get delivery from top-rated, popular local restaurants that do not otherwise offer delivery. For restaurants, Caviar is an affordable, convenient alternative to an in-house delivery solution and drives additional revenue.
With the acquisition, Square deepens its commitment to providing independent sellers with services that make it easier for them to grow their business.
“Caviar’s curated, seamless delivery experience is exactly the kind of service we want to provide buyers and sellers,” said Jack Dorsey, CEO of Square. “By making delivery such a fast, friendly, and easy process, Caviar gives time back to restaurants so they can focus on what they do best — cooking great food for their customers.”
Since its San Francisco Bay Area launch in 2012, Caviar has expanded its service to Boston, Chicago, New York, Seattle, Los Angeles, and Washington D.C. The company’s order volume has grown more than 500% year over year, and 80% of its monthly deliveries are to repeat customers.
“Caviar has made it easy for customers to get food delivered from some of the most popular, local restaurants in the country,” said Jason Wang, co-founder and CEO of Caviar. “With Square’s national scale and commitment to making commerce easy, we’ll be able to help buyers get food delivered from more of their favorite restaurants, while helping restaurants reach new customers and simplify their operations.”
More than 50,000 restaurants already use Square’s complete register service. From Square Register to sales reports and business analytics, Square’s products make it easier for sellers take care of their business. Square also recently released inventory tracking, Offline Mode, and Square Order, a new way for customers to pre-order food and drinks for pickup.
About Square, Inc.
Square helps anyone take care of their business. Square’s complete register service is a full point of sale with tools for every part of running a business, from accepting credit cards, to sales and inventory tracking, to small business financing. Customers also use Square Cash, the easiest way to send and receive money, and Square Order, a new way to pre-order food and drinks for pickup. Founded in 2009 and headquartered in San Francisco, Square is currently available in the United States, Canada, and Japan.
Take your pick!
- Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
- VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.