How I Built A $400 Million Food Delivery Company Called Caviar | Founder Effect
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- Опубліковано 5 жов 2024
- Shawn Tsao almost became an architect. Instead, he's a co-founder of food delivery company Caviar, which sold to DoorDash in 2019 for $410 million.
Produced by: Ernestine Siu
Supervising Producer: Jessica Leibowitz
Camera: Mickey Todiwala, Katie Brigham, Andrew Evers
Editor: Nic Golden Henry
Animator: Elham Ataeiazar
Reporter: Tom Huddleston Jr.
Additional Footage: Shawn Tsao, Jason Wang, Getty Images, Caviar
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How I Built A $400 Million Food Delivery Company Called Caviar | Founder Effect
The last part about Shawn’s mother still wanting him to go get an MBA cracked me up! 😂 Every Asian person knows what he’s talking about.
😂😂😂😂
Tiger mum😂
#Asianthings
Just in case his millions fail....😄
Yeah well, Woody Allen's mother was still berating him --at the height of his career--for not having done something better with his life 😂...
When I'd order delivery, Caviar was always my favorite. Highest quality of everything. This was a great watch. Shawn and our journalist [didn't catch her name] were super likable!
The headline is misleading. They sold the company to Square for US$100 million and Square sold it to Doordash for US$410million
not it isnt. He is literally the one who built a company that turned into $400 million
Caviar was amazing. I used to courier for them, in NYC. Great pay. Small trips. Amazing restaurants in the city. Door Dash killed the whole vibe.
Easy $8K $10K per month back in 2016-2017 good ol courier days
@@thecryptotrapper1030 Wow, really?? That's really good pay
okay so this was actually good for delivery drivers too? did you make more money with them than you would make working as independent on your own for the businesses directly? can you share more insight on this part of the story? because upon watching this video it leaves me with the impression "oh so all they did was start to profit on the delivery fees that were earned by independent deliveries" So how does the math works in that case? The couriers end up making more based on the sheer difference of amount of sales on its own? Okay I can imagine that, but there's a flaw to that argument, to me that sounds that each individual delivery is being LESS profitable than it was before the company took over that management. You might be earning a bit more, but you're having to work MORE for that bit extra money in the end. While the company itself just sits there with their platform profiting. In the end, it leaves a weird impression of parasiting.
more than you would make independently for restaurants working the same amount of hours?
cuz doordash wanna finessed and get mORE money rather than care for their driver delivers.
That's my pledge bro! So proud of you Shawn, Jason, and the entire Caviar team! I remember when this started from the frat house =)
You are not part of the team??
He built the company. This is his legacy. This cannot be taken away from him just because it got sold several times. The title is correct.
Tsao's story is a testament to the opportunities that can arise when individuals are open to exploring different paths and seizing unique entrepreneurial opportunities. 🚀
He sold it to square for $90 million. So he built a $90 million company. Not a $400 million dollar.
What did you build?
@@mc0000 What does that have to do with anything?
It was later bought by DoorDash for 410 million, so thereby built a 400M app 😒
@@Official-D.W. You do not count it after he had sold it.
@@Official-D.W. yes he was basically screwed
Great video. Humble and hardworking!!! So deserved.
What a superior human. Smart innovative tall good looking humble. He's got it all.
Superior?! Yikes!
Is it a good idea to use a personal loan to consolidate and pay off credit card debt or to invest?
Yes, personal loans are the best. Their APRs are between 5,99% to 35,99%. Personal loans for bad credit are more expensive, but I can't pick wishful thinking over logical reasoning, as a matter of fact half of the house loan I took out was used to buy shares and options trading which still pays me
Oo wow!
I don’t even know what Options are, how does it work?
Do you mean Options trading, I keep hearing about it a lot and seeing ads videos on UA-cam here but I never knew it was profitable
I don’t handle it myself, rather I leave that to a pro, maybe you could need his help
Benjaminravies that’s his gmai
Keep with it Founder Effect team! Great videos
Great story I wish you had deep dived into what was so unique about the Cavier app that Square paid a 100m for. Also what made their app stand out from the competitors?
that guy seems like a good guy. congrats to him and his buddies.
A heck of a story. Congratulations.
Many people venture into crypto to be wealthy, meanwhile I just want to be debt free.
Unfortunately The majority of individuals seem unaware of and careless when it comes to investing, despite the fact that it should be the best thing a person can do for himself. My gains from stocks and cryptocurrencies are still having a significant impact on my fortune. So I have no inclination to rely entirely on my pay or to wait for the market to go up.
Assets that can make wealthy
Crypt0
Stock
Real estate
Gold
You're right, Fear is one of the factors that hinder most persons to invest into crypto, most persons say ignorance..
I'm enjoying working under a platform that brings good returns in my life and I've been making my weekly returns without stress all in cry'pto
Investing in c.rypto is the most profitable investment due to its current rise, huge profits and future benefits.
This video needs a follow-up on his current ventures - great story
wow, a lot of success stories coming out from Berkeley!
Food industry is just gonna get better and better!
Such a down to earth guy! Deserves the win.
I’m assuming he & his cofounders had to payout the initial investors after selling their company for $100 million. Meaning the cofounders might have gotten like $10 million each after taxes.
That’s a retirement fund
We had a huge success in 2021 and 2022 with our ecommerce snack and candy business online now 14 years online every downside or economic challenge presents an amazing opportunity even with food
Bro am 13 and poor af lol from. Ghna no opportunity in. Life bro wow
I need start my own buniuss thanks for motivation I’ll be a BILLIONAIRE TRUST ME
We need more founder effect
Very inspiring. One of my goals is to one day also be on CNBC Make It. :)
this was an amazing video- it's really inspiring to see someone from UC Berkeley succeed with hard work and determination. go bears!
That’s cool. I’ve always wanted a group of friends to invest in a company with. Gonna start looking today😂
College friends is a good place
Where you at?
They cared so much they sold it to the first buyer who quadrupled their money in less than 5 years by reselling it......
Power of believing in yourself
Power of having not only friends but RIGHT friends
Must have been a fantastic journey. I hope I take one similar soon
Amazing story
Wish I could do this too
How much profit has he made? We need to start measuring folks that way.
"His mom still believed that an MBA was going to save him, but she didn’t know he was hiring a lot of MBA students." 😂❤
inspirational
not really lmao their orders are just taken by doordash now
My first acquisition was abt $200K.
Just wanted to share a reality check for what entrepreneurship more often looks like irl.
u didnt need to sell tho u couldve kept growing so thats ur problem not rlly a reality check more like "hey guys dont make the same mistake as me and have fomo"
Beautiful story!
I was in Kuwait in 2012 and restaurants including fast food were being delivered by independent contractors.
He should be an actor. So handsome.
Exactly
Wow it's true if we have passion we can get through hardest days and not give up
Wow, amazing successful story. Thx 4 sharing on Utube.
Well done!
how it was different from Uber Eat? What was the USP ?
That was awesome
Every crash /collapse/inflation or a recession offers an equal market opportunity if you are well prepared and knowledgeable. I've seen people accumulate up to $800,000 during crises and even pull it off with ease in a bad economy. Without a doubt, the bubble or crash has made someone extremely wealthy.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. he's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
"Wonghuatrade" is the advisor that oversees my portfolio. He's been able to gain some reputation and online recognition with over 3 decades in service, so it shouldn't be a hassle to find basic info.
He appears to be a true authority in him profession. I looked him up online and found his website, which I browsed and went through to learn more about him credentials, academic background, and career. he owes me a fiduciary duty to act in my best interests. I set up an appointment to use his services.
never heard of them
When he mentioned the MBA it made me certain that Asian parents will be Asian parents
Are these comments below bought? They sound incredibly fake and paid for.
Amazing! But its kinda weird that he build a $400 Million dollar food company that had more than $400 million invested in it.
lol
Inspiring story of grit against all odds, David and Goliath.
And what happen to Sean Sal the founder in November 2023, is he still around ?
Very inspiring story! Great job!
how the heck did they have the creator of gmail and those famous twins in their network for investment? was it part of the Uni's network ?
Caviar was the best food delivery app for drivers and customers until door dash ruined it.
Inspiring story but comment about Tesla is irrelevant. 8:08
I do!
Doesn't it work in Cambodia to connect world wode delivery
One of very few success stories where alcohol helped make a lifechanging choice.
Their company must have become a threat to others that other business shark had to buy theirs for a hundred million dollars.
$20-30 In delivery fees 🤔
Is this not an exaggeration?
I’m not sure but I can definitely believe it. Just a few months ago I placed a large order for a fast food restaurant that is only 1 and a half miles away from using Door Dash and the fees were $38 (delivery, service, and I think something called “local” fees…whatever that means). This is not including tax and tip for the driver. Needless to say we canceled the order. I live in Missouri by the way. That was so ridiculous.
I’m curious as how their company was so successful when it wasn’t much different than any of the other companies
They said it in the video. They targeted restaurants with great quality food and so indirectly people started talking and ordering from Caviar.
I think they came out before the other companies
When life gives you failing startups, make a sandwich... or in Caviar's case, an entire food delivery empire!
9:03 So true..!
How is this different from Doordash?
Go Shawn!
Fantastic video! I'm truly grateful for never giving up, even during the toughest times. I persevered until I reached success.Have you ever considered transitioning from self-investing to seeking advice from a financial advisor? When managing substantial assets, decision-making can be daunting. Sometimes, you may feel that having a bit more knowledge and making less emotional investment choices could lead to better results. In such situations, turning to a financial advisor is a wise move!
"I saw him online, and many of his investors had good things to say, so I decided to give him a shot. It turns out, he's just the best! His fees are reasonable, and he tailors investment plans to fit each individual's financial goals.
"
Pineapple fraternity !!!!!
After almost a hundred years. Any other Pineapples made it big?
@@randomsh-t917there are others with less publicity, yep. Another bro from UC Riverside founded a Y Combinator backed startup. Lots of examples if you’re in the know
He should ask can he have stocks and shares in the company to so money will still be coming in from that company
he picked a great time to sell!
How much did they make each ?
Shawn is so daddy and great eye candy
I think you should get a MBA too since you are too smart not to get it. You are a genius.
Inspiring! Go Bears!
PAPHI!!!!! Brotherhood!
Love Ikes!!!
WOw I love this
How much loses it is having each month?
Worthy
I remember using caviar on the web in 2015 pre app days working in the app space at a Wework in nyc. Fun days
400$ million is overvalued ,
Italia anche sera importante.e così sarò convinta que farà sucesso
it's his cute kind face for me.
Help Me with how this works. It they sold Caviar to Square for $100 million, but were not involved when Door Dash bought Caviar from Square for $410 million, then he helped start a company that went to $410 million after he was NOT involved.😎
So you click on the video
@@likeasambud9817 100%
Ohhh man... lets just say he was involved from $0 to $100M. But was no longer involved from $100M to $410. There explained it like a 3rd grader
Hence the mom’s push for b school
Hows this app different than DoorDash??
it's not at all, there are so many apps like it, and before it.
he needed to stay with it longer
All of them have an English name, intersting.
9:10 This answer has nothing to do with her question lmao
good video
I would so love to see entreprenuers who FAIL and not just this survivorship bias and heroworshipping success stories. Enetprenuership should NOT be recommended to most.
He's good looking
Is he single?
Everytime i tried to get a business started, my friends flaked out. My friends sucked.
Maybe we can be friends to start up something.
@@emeksb4823 ha ha. Maybe. Actually I'm too old now, don't have the energy.
@@saratemp790 ok no worries.
Anyone wants to team up building something?
Click bait is amazing. In other words you told lie
beautiful story.... 100 million in his bank account for a simple app
Underwhelmed by these delivery startups. In fact all of these fluffy startups are just ticking time b*mb
Great and inspiring! 👏
Never heard of it
Life is made. Back to the hamster wheel for me until I also come up with an idea ⏳
America 🤝🤝🤝🤝🇧🇷🇮🇹🌎💯🌎💯🌎💯👍👍👍😋😋😋😋😋 siguro fareste sucesso e comodo a tante lavoratori
🎉🎉
What's special about this delivery app?