Just how much VC funding does DoorDash have?
DoorDash Buying Caviar from Square for $410M
21–30 of 172 posts
Re: DoorDash Buying Caviar from Square for $410M
#22The price seems high for something Square presumably needed to unload. Who else would have been bidding it up? And why are food delivery businesses still in a bubble? That's not a slam on businesses in a bubble phase, either. Many industries go through one before settling into a steady, sustainable state. Just surprised that delivery is still in one, while related industries, like ride-share are cooling off.
They make a lot of profit, recycling it buy up and coming startups to maintain market share and the business model.
Re: DoorDash Buying Caviar from Square for $410M
#23Was super confused for a while thinking this was about actual caviar...
Me too! $410M worth of caviar sounded like a lot of caviar!
Re: DoorDash Buying Caviar from Square for $410M
#24The price seems high for something Square presumably needed to unload. Who else would have been bidding it up? And why are food delivery businesses still in a bubble? That's not a slam on businesses in a bubble phase, either. Many industries go through one before settling into a steady, sustainable state. Just surprised that delivery is still in one, while related industries, like ride-share are cooling off.
food delivery service is blowing up because it's still extremely inefficient in the USA. you can get _anything_ delivered in Hong Kong for about $1. some hong kongers don't even have kitchens and live like that for years.
travis kalanick is investing millions of his own cash into this space.
Re: DoorDash Buying Caviar from Square for $410M
#25For what it's worth, the general vibe I've gotten from couriers has been that Caviar is one of the best food delivery apps for them, and that DoorDash is among the worst.
It's funny, I know almost no two people with similar experiences (user or courier). For example as a user I have literally never had a good experience with Caviar. It almost always wrong in different ways. As a courier one time the guy called and said that the restaurant was taking so long that Caviar would no longer pay him to wait so we ended up paying him out of pocket to cover it (he said we could cancel and get…
Interestingly, that is exactly what Square planned to do with Caviar: integrate with Square POS so both use the same system and build a tightly integrated marketplace.
Re: DoorDash Buying Caviar from Square for $410M
#26The price seems high for something Square presumably needed to unload. Who else would have been bidding it up? And why are food delivery businesses still in a bubble? That's not a slam on businesses in a bubble phase, either. Many industries go through one before settling into a steady, sustainable state. Just surprised that delivery is still in one, while related industries, like ride-share are cooling off.
They make a lot of profit, recycling it buy up and coming startups to maintain market share and the business model.
> They make a lot of profit
I have always heard food delivery as a business is a great way to lose money. Do you have any examples of companies doing it profitably?
Re: DoorDash Buying Caviar from Square for $410M
#27The price seems high for something Square presumably needed to unload. Who else would have been bidding it up? And why are food delivery businesses still in a bubble? That's not a slam on businesses in a bubble phase, either. Many industries go through one before settling into a steady, sustainable state. Just surprised that delivery is still in one, while related industries, like ride-share are cooling off.
food delivery service is blowing up because it's still extremely inefficient in the USA. you can get _anything_ delivered in Hong Kong for about $1. some hong kongers don't even have kitchens and live like that for years. travis kalanick is investing millions of his own cash into this space.
The density of HK is not comparable to basically anywhere in the US, except maybe just Manhattan. The labour sources are also a lot cheaper.
There's room to improve in the US, like making kitchens without the attached restaurant more prevalent, but as long as you have to get in a car to deliver the food, there's going to be the same problems the rideshare industry faces.
Re: DoorDash Buying Caviar from Square for $410M
#28Still cheaper than actual caviar
Re: DoorDash Buying Caviar from Square for $410M
#29Just how much VC funding does DoorDash have?
$2bn I believe. You can tell because of how eager they are to throw money away to drive customer acquisition.
Re: DoorDash Buying Caviar from Square for $410M
#30The price seems high for something Square presumably needed to unload. Who else would have been bidding it up? And why are food delivery businesses still in a bubble? That's not a slam on businesses in a bubble phase, either. Many industries go through one before settling into a steady, sustainable state. Just surprised that delivery is still in one, while related industries, like ride-share are cooling off.
food delivery service is blowing up because it's still extremely inefficient in the USA. you can get _anything_ delivered in Hong Kong for about $1. some hong kongers don't even have kitchens and live like that for years. travis kalanick is investing millions of his own cash into this space.
Very interesting.
I read something the other day that 20-25% of US food-delivery-service drivers have admitted to stealing some portion of food (typically free-grab french fries).
I wonder if this exists elsewhere too. Or maybe it really doesn't matter.