Square can’t find a buyer for its meal delivery service, Caviar.
That’s according to a new report out from Bloomberg’s Eric Newcomer and Selina Wang, which claims that Square has approached potential buyers like Uber, GrubHub, and Yelp, but couldn’t find a buyer willing to pay the asking price, which Bloomberg reports was $100 million.
According the Bloomberg, the talks first began toward the end of 2015 and early 2016 after Square received inbound interest in Caviar. While Uber is said to have made an offer, Square apparently found it too low.
Tensions between Square and Caviar have been high, said a source familiar with the situation. While Caviar is seen as a favourite of Square CEO Jack Dorsey, Square’s other leadership has been pushing back against the delivery network’s mounting losses.
Square did not immediately return a request for comment.
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