Caviar
AcquiredYC S11San 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
Founders & leadershipΒ· Y Combinator alumni (S11)
Investors Β· 7
Also in the syndicate Β· 2
Company profile
researched Aug 2026Caviar 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.
βΈFull 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 reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Competitors Β· 7
by search overlapCompanies competing with Caviar for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline Β· 12
launches, deals, and filingsWang was named one of 10 game-changers featured across 10 years of the Forbes 30 Under 30 list.
$410M source β
Wang served as CEO through August 2016, two years after the Square acquisition.
Six months after the Square acquisition, Caviar had tripled orders, expanded to 15 cities nationwide and more than doubled headcount to over 100 employees.
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
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.
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
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.
Caviar launched in New York City and Seattle with 15-20 restaurants in each market.
Caviar, previously invite-only for individual consumers, opened to the general public.
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.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 8
primary sources listed
- Welcome to Caviar Support - DoorDash Help Centerhelp.trycaviar.com Β· web
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.








