San Francisco-based Square has acquired Caviar, a rapidly growing company that allows buyers to get delivery from top-rated, popular local 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.
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% year over year, and 80% of its monthly deliveries are to repeat customers.
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.
Square’s complete register service is a full point of sale with tools for every part of running a business, from accepting credit cards, to sales and inventory tracking, to small business financing.
Terms of the Caviar acquisition were not disclosed.
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