Payment process platform Square has sold Caviar, the food delivery service, to DoorDash, the meal delivery company.
The sale was completed on October 31 to the tune of $410m in a mix of cash and DoorDash stock.
Square also noted that Caviar would be included in the company’s over financial results through October 2019, but that it would no longer be included following the completion of the sale.
The company said that Caviar was projected to contribute £32m in total net revenue for the last quarter of 2019.
It was revealed that Square might be looking to compete with stock-trading company Robinhood in September. The enterprise announced it would launch a new stock-trading feature in its Cash App.
However, there is one area of FinTech that Square does not want to take part: cryptocurrencies.
In particularly, it would not like to be associated with Libra, the cryptocurrency project led by Facebook.
When Jack Dorsey, founder and CEO of both Square and Twitter, was asked if he would ever join the Libra Association, the group of companies behind Libra, he simply replied, “Hell no.”
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