Square Acquires Caviar

Earlier this year, we did bring you word that the folks over at Square themselves could very well be looking for a buyer, as the mobile credit card processing company is not doing too well where its balance sheets are concerned. Well, it seems that things do not seem to be all that bad, or that they have some sort of unknown ace up their sleeves, as Square has just picked up Caviar, a company whose bread and butter involves delivering food from restaurants which do not normally offer such a service. This is no doubt one of the surprise acquisitions that many people would not have seen coming.

Caviar happens to be a consumer facing service, whereas Square has more or less marketed its services to independent businesses most of the time. Square CEO Jack Dorsey maintains that this particular purchase is not outside of the confines of his company’s goals though, so we will trust him on that.

Dorsey shared, “Caviar’s curated, seamless delivery experience is exactly the kind of service we want to provide buyers and sellers. 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.”

At this point in time, Caviar will still continue to maintain an independent operation of Square, but at the very least, this particular acquisition allows them to have at least one more service to offer the masses, and perhaps to assist independent businesses in their growth process. [Press Release]

Edwin Kee
Categories: General
Tags: caviar, square