The square plans to buy a meal service provider Caviar this week

Abstract: August 4 According to foreign media reports, according to people familiar with the matter, mobile payments giant Square chief Executive Dorsey (Jack Dorsey) is scheduled to announce this week the official acquisition of the U.S. meal reservation website Caviar News. People familiar with the matter said that in the deal, caviar only

August 4, according to foreign media reports, according to people familiar with the matter, mobile payments giant Square chief Executive Dorsey (Jack Dorsey) is scheduled to announce this week the official acquisition of the U.S. meal reservation website Caviar News.

In the deal, caviar only accepted square shares, according to people familiar with the matter. The New York Times previously reported that the deal amounted to $90 million trillion. The square spokeswoman and Caviar chief executive Jeson Wang declined to comment. Caviar is a service provider that offers restaurant online meals to help restaurants that do not provide room service to send their ordered meals home or office.

For most mobile payment companies, mobile delivery is a very frustrating business. But for Square, this represents a huge opportunity. Over the past few months, the company has expanded its service offerings to try to increase revenue, reflecting its 5 billion dollar valuation.

Square's new products include the cash overdraft scheme Square Capital, the square feedback to help customers understand product services, and the ordering Application square order (which is replacing the failed square Wallet). The purpose of square is unclear, whether it will bet on these new products and services, or try to catch straws.

In the area of delivery, caviar is facing fierce competition, with rivals including DoorDash companies that provide similar services and traditional meal-delivery companies GrubHub. After the acquisition of caviar, Square can theoretically offer a delivery service to restaurants or cafes that already have a pay system, including meal sets and ordering.

But it is not clear how many restaurants and cafes are in the mix, and the company will offer discounts to restaurants and cafes that have already cooperated with caviar and begin processing payment services through square. On the consumer side, caviar may eventually be incorporated into the square order, for which consumers can use the same name to browse the ordering and delivery service.

In the meantime, caviar can provide immediate delivery services for square in 10 U.S. cities, including Manhattan's Momofuku and San Francisco's Nick's Crispy tacos. Each time the meal is delivered, caviar charges 9.99 dollars to the customer. The company recently said delivery fees would soon be lowered to $4.99 trillion. Caviar can be taken from restaurants at a discount of 10% to 25%.

Caviar has 70 employees, excluding independent contractors. For each meal, the independent contractor is required to pay a cost of USD 15 to take away and deliver the food. Jason recently said the company was profitable in the first 3 months of its business, but was then plunged into a deficit by accelerating its expansion. Caviar has raised 15 million of billions of dollars from investors such as Andreessen Horowitz and Tiger Global. Caviar's most famous competitor, DoorDash, recently announced that Sequoia Capita-led investor l700 million dollars in investment. Sail）