DoorDash , the delivery service known for screwing over its pitch workers with anelaborate pourboire - skimming scheme , is reportedly take on upscale food delivery chopine Caviar in a deal rate at $ 410 million .
Caviar ’s parent company Square announced the news show during its second - poop lucre on Thursday . According to its Q2shareholders letter , the multimillion - clam sale will be paid for with a mix of cash and DoorDash preferred stemma . It comes near two years after Square was reportedlylooking to offloadCaviar but was having difficulty finding a purchaser .
In a statement , Square CEO Jack Dorsey — who also find to be the CEO of a firm contender forworst siteon the internet — said in astatementthat his company was “ increasing our focus on and investment in our two large , produce ecosystem — one for clientele and one for somebody . ”
Photo: Tibrina Hobson (Getty)
“ This transaction encourage that exertion , and we believe partner with DoorDash provides valuable and strategic chance for Square , ” he added .
Tony Xu , DoorDash co - father and CEO , boast the accomplishment in a statement as integral to growing its merchandiser offerings , and more questionably , “ another important step onward on our mission to empower local economy . ” ( Delivery apps , andDoorDashinparticular , have been accused ofpissing offand evenhurting local eating place . )
“ We have long - admire Caviar , which has a in demand marque , an exceptional portfolio of premium eating house and leading engineering science , ” Xu said . “ The acquisition further enhances the breadth of our merchandiser selection , enabling us to provide customer even more choice when they order through DoorDash . We look forward to welcoming the Caviar team to DoorDash and expanding our partnership with Square in the futurity . ”
The accomplishment comes at what could be a polar time for DoorDash as the party grip with radioactive dust over itscontroversial pay mannikin , which uses client lead to offset the per - delivery earnings of its courier . After calendar month of pressure and after previouslyrefusing to budgeon the proceeds , Xu flip course last workweek follow a recentNew York Timesreport and said in a series of tweets that DoorDash would be changing its poser .
“ extend forwards , we ’re changing our role model — the young model will ensure that Dashers ’ earnings will increase by the accurate amount a customer steer on every order , ” Xu said at the time . “ We ’ll have specific detail in the coming day . ”
doordashgig economyJack DorseySquare
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