Square, which provides a mobile payment reader, announced that it has acquired Caviar, a rapidly growing company that allows buyers to get delivery from top-rated 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 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.”
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.