… DoorDash is buying Caviar from Square, the payments company, which has owned the service since 2014. Caviar operates in around 15 cities and primarily offers food from upscale restaurants in urban areas.
…DoorDash has embarked on a string of fund-raising. In May, the company raised $600 million, lifting its valuation to $12.6 billion. The company collected $400 million from Temasek and Dragoneer Investment Group in February. In 2018, the company raised $785 million from investors.
Mr. Xu said he did not see competition as a hindrance in food delivery because only 7 percent of “non-pizza” food sold in the United States was delivered.
“It’s early days in a market that’s highly dynamic,” he said.