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Caviar

AcquiredYC S11

San Francisco, US Β· 51 employees Β· 7 known investors

Caviar is a food delivery platform that partners with restaurants to fulfill orders placed through its web and mobile applications. The service connects customers to restaurants across major U.S. cities and provides restaurants with tools to expand their customer base and sales.

Also known as Caviar, Inc. Β· Munch on Me

ConsumerFoodTechDeliveryFood TechUnited States of AmericaAmerica / Canada

Founders & leadershipΒ· Y Combinator alumni (S11)

JWJason Wang
Jason Wangin𝕏Founder/Founding CEOHe has worked as a restaurateur and angel investor.30 Under 30 2015
RDRichard Din
Richard DininFounder
T(Tony (Shi) Li
Tony (Shi) LiinFounder
AZAndy Zhang
Andy ZhanginFounder

Investors Β· 7

Also in the syndicate Β· 2

Mixt Greens restaurant groupPaul Buchheit

Company profile

researched Aug 2026

Caviar is a curated online food-delivery service that connects consumers and businesses with local restaurants, many of which did not previously offer delivery, and dispatches its own couriers to complete orders. Customers browse photographed menus in the web and mobile apps, place orders, and track deliveries in real time; the service also supported shareable group-ordering links, making it well suited to office lunches and events. Unlike marketplaces aggregating restaurants that already delivered, Caviar's positioning centered on an exclusive, quality-focused restaurant selection with professional dish photography.

Founded in 2012 in San Francisco by five University of California, Berkeley friends, Caviar grew out of the failure of the founders' earlier daily-deals app, Munch on Me. The team focused early on two metrics β€” orders per week and revenue β€” and grew by signing high-profile neighborhood restaurants whose own promotion generated inbound demand, keeping marketing spend minimal. It expanded from San Francisco to seven U.S. cities by mid-2014.

Square acquired Caviar in an all-stock transaction in August 2014, and DoorDash bought the business from Square in August 2019 for $410 million. The Caviar consumer app continues to be published by Caviar, Inc. with DoorDash as the operating parent; support is handled through the DoorDash help center, deliveries are performed by Dashers, and DashPass benefits apply on Caviar.

Founding story

Caviar was founded in 2012 by five University of California, Berkeley friends and fraternity brothers β€” Jason Wang, Richard Din, Shawn Tsao, Andy Zhang and Abel Lin. Their first venture, Munch on Me, a "Groupon for food" daily deals app, went through Y Combinator with $180,000 in investment but failed in 2011 as Groupon's market value dropped and investors soured on the model; the team sold its data to CollegeBudget for very little. At a Berkeley campus pub at the end of 2011 they decided to continue together and gave themselves six months to find a new idea. Tsao, who had planned to become an architect, conceived the concept while craving a sandwich from Ike's Place across town, and the team reframed the business as the "Uber for food."

Business model

Caviar acted as an intermediary between consumers and restaurants that did not otherwise offer delivery, signing restaurant partners without commitments, monthly fees or delivery infrastructure requirements and operating its own courier fleet to pick up and drop off orders. Restaurants gained a delivery channel without logistical or operational costs; customers browsed picture menus, ordered, and tracked deliveries live on a map, with orders promised within about an hour.

In the early model, food messengers kept the $10 delivery fee and part of the gratuity, while the balance of the fee and food surcharges accrued to Caviar. The company reported reaching profitability within its first six months and seven-figure annual revenue in its first year.

Traction

By April 2014 Caviar reported an average order size of about $80 and 80% of orders coming from repeat customers. It had 10 full-time employees in January 2014 and 40 by July 2014, when order volume had grown more than 500% year over year. Six months after the Square acquisition it had tripled orders, reached 15 cities and exceeded 100 employees. The Android app lists more than 1 million downloads.

Latest developments

Caviar operates as part of DoorDash following the 2019 acquisition: the Android app is published by Caviar, Inc. with a DoorDash developer contact, deliveries are made by Dashers, DashPass benefits apply, and trycaviar.com support redirects to the DoorDash Support Center. App features referenced include no-contact delivery by default, real-time tracking, scheduled orders and pickup; the Google Play listing shows 1M+ downloads and an update dated August 2026.

β–ΈFull profile β€” market position, technology, go-to-market, geography, history

Market position

Caviar competed in a crowded, heavily funded on-demand food delivery market alongside GrubHub and Seamless (both roughly a decade older), Postmates (launched the same year), DoorDash (a year later) and Uber Eats (2014), as well as Munchery, Sprig and SpoonRocket. Its niche was curation of exclusive, higher-end restaurants rather than broad aggregation. The business exited twice: to Square in 2014 and to DoorDash in 2019 for $410 million.

Caviar differentiated from Seamless, Grubhub and other aggregators by partnering exclusively with high-quality, often delivery-averse restaurants, curating a limited assortment, commissioning professional photography for every dish, and offering restaurants a no-commitment, no-monthly-fee arrangement that required no delivery infrastructure. It ran its own courier fleet and supported live map tracking and shared group-ordering links.

Technology

Caviar operates consumer web and mobile applications (including an Android app published by Caviar, Inc.) with photographed menus, live map-based order tracking, delivery scheduling and advance ordering, pickup, no-order-minimums, shareable group-ordering links, and no-contact delivery. Arrival estimates account for factors such as restaurant prep times, traffic and weather. Restaurants can be onboarded in minutes without their own delivery infrastructure.

Go-to-market

Growth relied heavily on restaurant-driven, low-cost acquisition: signing well-known local restaurants (for example, the best burger or taco in a neighborhood) that promoted newly available delivery and backlinked to Caviar from their own sites, producing indirect word-of-mouth at minimal marketing expense. Early demand came from corporate weekday lunch ordering before the service opened to the general public in March 2013. Consumer promotions include a free first delivery and a $10 discount code on first orders over $35, and DoorDash DashPass benefits apply on Caviar.

Consumers seeking delivery from higher-end, curated and often delivery-exclusive local restaurants, plus businesses ordering office lunches and event catering; as of January 2014 about 40% of customers were corporate, generating 65% of revenue.

Geography

Caviar started in San Francisco in July 2012, added New York City and Seattle in November 2013, Washington, D.C. in April 2014, and Los Angeles in July 2014, reaching seven U.S. cities (also Boston and Chicago). Six months after the Square acquisition it operated in 15 U.S. cities. The company is based at 220 Montgomery St Ste 370, San Francisco, CA 94104.

History

Five UC Berkeley friends and fraternity brothers first built Munch on Me, a Groupon-style daily deals app for food that was accepted into Y Combinator and raised $180,000, but collapsed in 2011 as the daily-deals sector deteriorated; its data was sold to CollegeBudget. Caviar launched in San Francisco in July 2012 with weekday corporate lunch delivery, opened to the general public in March 2013, and added New York City and Seattle in November 2013. In April 2014 it disclosed $15 million in seed and Series A capital and entered Washington, D.C.; by July 2014 it had 40 employees and served seven cities including Boston, Chicago and Los Angeles. Square acquired Caviar in August 2014, after which the service tripled orders, reached 15 cities and grew past 100 employees within six months. Founding CEO Jason Wang remained until August 2016. Square sold Caviar to DoorDash in August 2019 for $410 million; the Caviar app is currently operated under DoorDash, whose support site serves Caviar users.

Compiled by commissioned research from 8 cited public sources β€” announcements, filings, and press listed under research sources below.

Key figures

latest reported
Average order sizeApr 2014$80
Cities servedFeb 201515 cities
EmployeesFeb 2015100 people
Full-time employeesJan 201410 people
Google Play downloadsAug 20261M+ downloads
Restaurants in San FranciscoJan 201230 restaurants
Share of customers that are corporateJan 201440%
Share of orders from repeat customersApr 201480%
Share of revenue from corporate customersJan 201465%
Y Combinator investment in predecessor company Munch on MeJan 2011$180K
Year-over-year order volume growthJul 2014500%

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Competitors Β· 7

by search overlap

Companies competing with Caviar for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline Β· 12

launches, deals, and filings
Sep 2020
Jason Wang recognized by Forbes as a 30 Under 30 game-changer

Wang was named one of 10 game-changers featured across 10 years of the Forbes 30 Under 30 list.

source β†—

Aug 2019
DoorDash acquires Caviar from Square for $410 million

$410M source β†—

Aug 2016
Co-founder Jason Wang steps down as CEO

Wang served as CEO through August 2016, two years after the Square acquisition.

source β†—

Feb 2015
Post-acquisition expansion to 15 cities

Six months after the Square acquisition, Caviar had tripled orders, expanded to 15 cities nationwide and more than doubled headcount to over 100 employees.

source β†—

Jan 2015
Jason Wang named to Forbes 30 Under 30 (food & drink)

source β†—

Aug 2014
Square acquires Caviar

Square acquired Caviar in an all-stock deal. UC Berkeley Haas reports the price as $90 million in stock; co-founder Shawn Tsao told CNBC the all-stock deal valued the company at more than $100 million and included a $2 million cash sign-on bonus split among the founders. Jason Wang remained CEO until August 2016.

$90M source β†—

Jul 2014
Launch in Los Angeles brings coverage to seven cities

With $15 million in venture capital and 40 employees, Caviar launched in Los Angeles, reaching seven cities total including Boston, Chicago and Washington, D.C.

source β†—

Apr 2014
Caviar raises $15 million in seed and Series A funding

Caviar disclosed a combined $15 million: a $13 million Series A led by Tiger Global and a $2 million seed round led by Winklevoss Capital, with funds earmarked for expansion into new markets.

$15M source β†—

Apr 2014
Entered Washington, D.C. as fourth city

Caviar entered Washington, D.C., its fourth city after San Francisco, Seattle and New York City, and said it expected to add a new city each week for roughly six weeks.

source β†—

Nov 2013
Launch in New York City and Seattle

Caviar launched in New York City and Seattle with 15-20 restaurants in each market.

source β†—

Mar 2013
Service opens to the general public

Caviar, previously invite-only for individual consumers, opened to the general public.

source β†—

Jul 2012
Caviar launches in San Francisco with weekday corporate lunch delivery

Caviar began operating in San Francisco offering weekday lunch to companies, starting with a handful of restaurants (Ike's Place, HRD, Nick's Crispy Tacos), with the founders making deliveries themselves before hiring couriers from Craigslist. It eventually expanded to about 30 San Francisco restaurants.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

β–ΈResearch sources Β· 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Caviar do?
Curated restaurant food-delivery service founded in San Francisco in 2012, sold to Square in 2014 and to DoorDash in 2019.
Who founded Caviar?
Caviar was founded by Jason Wang, Richard Din, Tony (Shi) Li, Andy Zhang.
Who are Caviar's investors?
Caviar's investors include Andreessen Horowitz, Winklevoss Capital, Y Combinator, Tiger Global Management, Together Fund.
Where is Caviar headquartered?
Caviar is headquartered in San Francisco, US.