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DoorDash buys food delivery service Caviar for $410 million
Read full article: DoorDash buys food delivery service Caviar for $410 millionSAN FRANCISCO - On-demand food delivery startup DoorDash has agreed to acquire rival Caviar for $410 million. Caviar, the premium restaurant delivery service, was most recently owned by payments-services company Square, which bought the firm in 2014 for about $90 million when it was just an early-stage startup. "We have long-admired Caviar, which has a coveted brand, an exceptional portfolio of premium restaurants and leading technology," said DoorDash CEO Tony Xu in a statement. DoorDash raised $600 million in new financing in May, valuing the company at $12.6 billion, Xu has said. DoorDash has faced scrutiny in recent months over its controversial tipping policy for delivery workers, where some tips contributed to their base pay.