Payments giant – Square – announced the acquisition of fast growing food startup Caviar, On 4th August, 2014. Caviar is an affordable, convenient alternative to an in-house delivery solution and drives additional revenue. It enables buyers to get delivery from top-rated, popular local restaurants that do not otherwise offer delivery.
“Caviar’s curated, seamless delivery experience is exactly the kind of service we want to provide buyers and sellers,” commented the CEO of Square, Jack Dorsey. “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.”
With this acquisition, Square says that it focuses more on providing independent sellers with services that enable their business to grow smoothly.
- Caviar was launched in the San Francisco Bay Area in 2012.
- The startup has expanded its service to Boston, Chicago, New York, Seattle, Los Angeles, as well as 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.
- Over 50,000 restaurants already utilize Square’s complete register service.
- Square says that its products enable sellers to take care of their business in a more seamless manner with the help of Square Register, sales reports as well as business analytics.
- Square also recently released Square Order, a new way for customers to pre-order food and drinks for pickup as well as inventory tracking and Offline Mode.
“Today, we’re excited to announce that Caviar is joining Square. Together we’ll double down our mission of delivering premium food through a premium delivery service with no compromises — giving buyers easy access to the food and restaurants they love so much,” wrote Jason Wang, in a blog statement. “It has been, and will continue to be, an incredible journey. Our ultimate vision aligns with Square’s: to provide local merchants with the best tools to grow and sustain their businesses. Delivery is no doubt an important component of helping a business drive additional revenue, and we’ll work hard to create new and exciting features for everyone.”