Square sells Caviar to DoorDash

Source: Square

Square, Inc. (NYSE: SQ) (the “Company”) today announced that it has completed its sale of Caviar to DoorDash, Inc. on October 31, 2019, for $410 million in a mix of cash and DoorDash stock.

In connection with the closing, Square is providing details on Caviar’s contribution to the Company’s previously announced guidance.

Caviar will be included in Square’s financial results through October 2019, but will no longer be included following the completion of the sale. Accordingly, Square is providing the following details on the amount Caviar had been projected to contribute at the time of the guidance provided in the Company's second quarter 2019 Shareholder Letter.

Square is not otherwise updating or commenting on its previously announced guidance at this time. As a reminder, on November 6, 2019, Square will release financial results for the third quarter of 2019 and will discuss guidance for the full year of 2019 at that time. 

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