Square Sold Caviar Last Year, but It Isn’t Giving Up on Online Deliveries
Square (NYSE: SQ) sold its food delivery platform Caviar to DoorDash for $410 million last year. That marked a significant gain from its purchase price of $44 million five years earlier and streamlined its business by exiting the saturated food delivery market.
That's why it was surprising when Square recently integrated a new on-demand delivery tool for restaurants and retailers in its payment hardware. But instead of hiring couriers itself, as it did with Caviar, Square will redirect the orders to its delivery partners.
Square's first delivery partner is Postmates, and it plans to add more partners in the near future. Let's see how this new feature could strengthen Square's ecosystem.
Source Fool.com
