DoorDash is purchasing Caviar from payments startup Square.
Tony Xu, CEO of DoorDash, said the acquisition will allow customers even more choice. : DoorDash will acquire food delivery rival Caviar for $410 million in cash and preferred stock, DoorDash announced Thursday, further consolidating the competitive delivery market as DoorDash goes up against GrubHub, UberEats and Postmates.the company in 2014 for $90 million.
Gokul Rajaram, Caviar's head, will join DoorDash along with the startup's employees when the deal closes.“We have long-admired Caviar, which has a coveted brand, an exceptional portfolio of premium restaurants and leading technology,” DoorDash CEO Tony Xu said in a release. “The acquisition further enhances the breadth of our merchant selection, enabling us to offer customers even more choice when they order through DoorDash.
its controversial tipping policy last week, which formerly used tips to subsidize a driver’s base wage.
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