After months of rumors, Square confirmed Monday (Aug. 4) that it has purchased Caviar, a food delivery service, for an undisclosed amount.
With operations in Boston, Chicago, New York, Seattle, Los Angeles and Washington, D.C., Caviar’s order volume, Square said, “has grown more than 500 percent year over year and 80 percent 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.”
TechCrunch reported the price—originally said to be $100 million—ended being about $90 million in stock.
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