DoorDash is buying Caviar from Square in a deal worth $410 million – TechCrunch

techcrunch.com

Color me surprised! DoorDash has reached an agreement with Square to purchase on-demand food delivery and catering business Caviar that Square had reportedly been looking to shop as of a few years ago. As part of the acquisition DoorDash has agreed to pay Square $410 million in cash and preferred DoorDash stock, making Square a shareholder in the delivery company who's most recent valuation topped $12bn. What surprises me the most is Gokul Rajaram is heading DoorDash with Caviar. A seasoned executive who has worked at Google, Facebook and Square, I'm surprised Square to see Square let him go. That said, jumping ship to another unicorn on the verge of going public that could use executive presence is not a bad way to do so.

Read more...
Linkedin

Want to receive more content like this in your inbox?