cloud network hunting note: mobile payments startup Square, the fate of the shift and some feel unprepared. Almost in a flash, by the social network Twitter co-founder jack? Dorsey (Jack Dorsey) under the leadership of the Square is from the darling of the industry into a catastrophe of the losers. It is reported that Square is a rapidly growing company, but the loss is serious. The company money quickly quickly, shrinking the balance sheet, available for selection.
has launched a variety of products try to arouse the user’s favor, but the effect is not obvious, such as mobile money service Square Wallet, tried to in the user’s money – failed; Cash advance services Square Capital, reservation service, Square, the Order, the customer satisfaction survey service Square Feedback, etc. Now, Square is going to revolve around payment system into other, more lucrative field. The latest action is, the planned purchase order site Caviar to build the business closed loop.
for reprint tencent technology’s latest report:
4 August, according to foreign media reports, according to people familiar with the mobile payment giant Square’s chief executive, Jack Dorsey, announced this week (Jack Dorsey) plan officially buying American reservation website news of Caviar.
, according to people familiar with the situation in the deal, Caviar only accept the stock of the Square. The New York times had earlier reported that the mergers and acquisitions as much as $90 million. Square with Caviar, a spokesman for the chief executive Jason Wang (Jason Wang declined to comment. Caviar is a provide restaurant online reservation service, can help those who do not provide room service in the restaurant to take user to place an order for catering to the home or office.
for most mobile payments company, mobile delivery is very headache. But for Square, it represents a huge opportunity. In the past few months, the company aggressively expanding service content, in an attempt to increase their income, reflect its $5 billion valuation.
Square’s new products including merchant cash advance planning Square Capital, help customers to understand the products and services of Square Feedback and Order application Square Order (is replace the failed Square Wallet). The purpose of the Square is not clear now, do not know whether it will bet on these new products and services, or want to seize the straws.
in the field of meals, Caviar is facing fierce competition, its rivals including DoorDash companies offer similar services and traditional GrubHub delivery company. After the merger and acquisition of Caviar, Square can theoretically restaurant or coffee shop for those who already have payment systems provide room service, including meals and order.
but it is unclear whether proportion of restaurants and cafes customers, the company will also to those who has been working with Caviar provide discounted service restaurants and cafes, and began by Square handle payment services. In the consumer side, Caviar may eventually be integrated into the Square, in Order to consumers can use the same application to browse Order and room service.
in the meantime, Caviar to the Square of 10 cities in the United States to provide immediate delivery service, the restaurant customers including Momofuku of Manhattan, San Francisco, Nick ‘s Crispy Tacos, etc. Each room, Caviar charge $9.99 to the customer. The company recently said that the delivery fee will soon cut to $4.99. Caviar from restaurants to a discount of 10% to 25%.
Caviar has 70 employees, independent contractors. Each time order, independent contractors need to pay about $15, to pick up and delivery of food. Jason said recently, the company operating the first 3 months of earnings, but immediately into deficit caused by the accelerated expansion. Caviar from Andreessen Horowitz and Tiger Global investors to raise $15 million. Caviar DoorDash recently announced that one of the most famous competitors get Sequoia Capita l700 million dollars investment, led by the investors.