Square has increased its bet on food delivery with the buy of Zesty, the leading company in catering delivery. The California-based company bought Zesty from its own food delivery company, Caviar, to integrate its talent and technology in his mission to dominate an already crowded market. Gokul Rajaran, Square’s Caviar Chief, also expects that this movement benefits the restaurants working with them.
“Expanding our corporate catering product with Zesty enables us to offer our restaurant partners another way to boost sales through higher-margin, large-format catering orders,” said Mr. Rajaram.
Zesty’s unique combination of technology and UX allows then to offer one of the more popular platforms to provide large-scale food ordering, and now they will have all the Square assets to improve their impact as part of Caviar.
“We share the same philosophy of offering only the best food from top-quality restaurants, and we are excited by Square’s passion for building smart tools to help restaurants grow,” said in PR Newswire, Chris Hollindale, founder and CEO of Zesty.
Square shares have been gaining value for the last 12 months, as Market Watch first noted, with trading up 194%, when the S&P 500 gained only 15% in the same period.