How I Built A $400 Million Food Delivery Company Called Caviar | Founder Effect

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CNBC Make It

CNBC Make It

9 ай бұрын

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

Пікірлер: 335
@richardk111
@richardk111 9 ай бұрын
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.
@CC-dx6bc
@CC-dx6bc 9 ай бұрын
😂😂😂😂
@anuwatsongkarn1443
@anuwatsongkarn1443 8 ай бұрын
Tiger mum😂
@kingsparks3695
@kingsparks3695 8 ай бұрын
#Asianthings
@a.r.8987
@a.r.8987 7 ай бұрын
Just in case his millions fail....😄
@aiai-j7i
@aiai-j7i 6 ай бұрын
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 😂...
@titiwashable
@titiwashable 9 ай бұрын
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!
@MrLegendfx
@MrLegendfx 9 ай бұрын
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.
@thecryptotrapper1030
@thecryptotrapper1030 9 ай бұрын
Easy $8K $10K per month back in 2016-2017 good ol courier days
@greenteapeng_
@greenteapeng_ 8 ай бұрын
@@thecryptotrapper1030 Wow, really?? That's really good pay
@FeelingShred
@FeelingShred 7 ай бұрын
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.
@FeelingShred
@FeelingShred 7 ай бұрын
more than you would make independently for restaurants working the same amount of hours?
@afficals-chi9056
@afficals-chi9056 6 ай бұрын
cuz doordash wanna finessed and get mORE money rather than care for their driver delivers.
@jamesczheng
@jamesczheng 5 ай бұрын
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 =)
@mandlas.4305
@mandlas.4305 7 ай бұрын
The headline is misleading. They sold the company to Square for US$100 million and Square sold it to Doordash for US$410million
@BigDonch
@BigDonch Ай бұрын
not it isnt. He is literally the one who built a company that turned into $400 million
@sunnyrays2281
@sunnyrays2281 9 ай бұрын
Great video. Humble and hardworking!!! So deserved.
@Jairsilvav
@Jairsilvav 9 ай бұрын
Keep with it Founder Effect team! Great videos
@SelfPublishingTitans
@SelfPublishingTitans 8 ай бұрын
Very inspiring. One of my goals is to one day also be on CNBC Make It. :)
@MoorishBrooklyn
@MoorishBrooklyn 9 ай бұрын
A heck of a story. Congratulations.
@sophiyastudios
@sophiyastudios 5 ай бұрын
this was an amazing video- it's really inspiring to see someone from UC Berkeley succeed with hard work and determination. go bears!
@OHANA-Beach-Suites-CDO
@OHANA-Beach-Suites-CDO 9 ай бұрын
WOW! CONGRATS!🎉🎉🎉🎉 LETS GO ENTREPRENEURS!!!!!!❤❤❤
@anthonydanvers559
@anthonydanvers559 9 ай бұрын
We need more founder effect
@danielmedina4953
@danielmedina4953 2 ай бұрын
Many people venture into crypto to be wealthy, meanwhile I just want to be debt free.
@billymark7125
@billymark7125 2 ай бұрын
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.
@loydriley9221
@loydriley9221 2 ай бұрын
Assets that can make wealthy Crypt0 Stock Real estate Gold
@claresmithy4667
@claresmithy4667 2 ай бұрын
You're right, Fear is one of the factors that hinder most persons to invest into crypto, most persons say ignorance..
@stevewilliams760
@stevewilliams760 2 ай бұрын
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
@henrynoble7011
@henrynoble7011 2 ай бұрын
Investing in c.rypto is the most profitable investment due to its current rise, huge profits and future benefits.
@phillipchien
@phillipchien 9 ай бұрын
Must have been a fantastic journey. I hope I take one similar soon
@myreel
@myreel 9 ай бұрын
That was awesome
@rotneder2814
@rotneder2814 5 ай бұрын
wow, a lot of success stories coming out from Berkeley!
@Shahsa001
@Shahsa001 4 ай бұрын
Is it a good idea to use a personal loan to consolidate and pay off credit card debt or to invest?
@Rya1122
@Rya1122 4 ай бұрын
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
@Shahsa001
@Shahsa001 4 ай бұрын
Oo wow! I don’t even know what Options are, how does it work?
@Thyago2420
@Thyago2420 4 ай бұрын
Do you mean Options trading, I keep hearing about it a lot and seeing ads videos on KZfaq here but I never knew it was profitable
@Rya1122
@Rya1122 4 ай бұрын
I don’t handle it myself, rather I leave that to a pro, maybe you could need his help
@Rya1122
@Rya1122 4 ай бұрын
Benjaminravies that’s his gmai
@dwa3210
@dwa3210 9 ай бұрын
That’s cool. I’ve always wanted a group of friends to invest in a company with. Gonna start looking today😂
@ericchu6503
@ericchu6503 9 ай бұрын
College friends is a good place
@tastychicken3966
@tastychicken3966 6 ай бұрын
Where you at?
@MarketingFoodOnline
@MarketingFoodOnline 9 ай бұрын
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
@awil2
@awil2 8 ай бұрын
Bro am 13 and poor af lol from. Ghna no opportunity in. Life bro wow
@awil2
@awil2 8 ай бұрын
I need start my own buniuss thanks for motivation I’ll be a BILLIONAIRE TRUST ME
@astronomicatx
@astronomicatx 5 ай бұрын
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. 🚀
@PraisePelumi
@PraisePelumi 9 ай бұрын
inspirational
@topher7716
@topher7716 9 ай бұрын
not really lmao their orders are just taken by doordash now
@reprovedcandy
@reprovedcandy 9 ай бұрын
My first acquisition was abt $200K. Just wanted to share a reality check for what entrepreneurship more often looks like irl.
@andrewxzvxcud2
@andrewxzvxcud2 9 ай бұрын
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"
@patman2193
@patman2193 9 ай бұрын
that guy seems like a good guy. congrats to him and his buddies.
@HoustonEats
@HoustonEats 5 ай бұрын
Very inspiring story! Great job!
@jom2609
@jom2609 9 ай бұрын
Power of believing in yourself Power of having not only friends but RIGHT friends
@cdclydesdale
@cdclydesdale 9 ай бұрын
Food industry is just gonna get better and better!
@jochemharald282
@jochemharald282 9 ай бұрын
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.
@jeffreysmart5461
@jeffreysmart5461 9 ай бұрын
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
@jamesmicheal3159
@jamesmicheal3159 9 ай бұрын
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.
@dickadriaan1898
@dickadriaan1898 9 ай бұрын
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
@cortantonie9457
@cortantonie9457 9 ай бұрын
"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.
@carleddiewesley4960
@carleddiewesley4960 9 ай бұрын
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.
@saratemp790
@saratemp790 9 ай бұрын
What a superior human. Smart innovative tall good looking humble. He's got it all.
@aiai-j7i
@aiai-j7i 6 ай бұрын
Superior?! Yikes!
@hongscave
@hongscave 7 ай бұрын
Such a down to earth guy! Deserves the win.
@TheMediocreDev
@TheMediocreDev 8 ай бұрын
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.
@bigboner23
@bigboner23 5 ай бұрын
That’s a retirement fund
@AlanSmith88888
@AlanSmith88888 5 ай бұрын
Amazing story
@MerrilDiniz
@MerrilDiniz 9 ай бұрын
This video needs a follow-up on his current ventures - great story
@mitchelljean-milard2464
@mitchelljean-milard2464 9 ай бұрын
Go Shawn!
@DanZL1
@DanZL1 4 ай бұрын
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?
@loubaokraka8310
@loubaokraka8310 4 ай бұрын
Beautiful story!
@MMMM-qg7ln
@MMMM-qg7ln 9 ай бұрын
He should be an actor. So handsome.
@saratemp790
@saratemp790 9 ай бұрын
Exactly
@FoodwaysDistribution
@FoodwaysDistribution 3 ай бұрын
They cared so much they sold it to the first buyer who quadrupled their money in less than 5 years by reselling it......
@maneeshahooja
@maneeshahooja 4 ай бұрын
Well done!
@MrBeast-1
@MrBeast-1 9 ай бұрын
How much profit has he made? We need to start measuring folks that way.
@zot2698
@zot2698 8 ай бұрын
Amazing! But its kinda weird that he build a $400 Million dollar food company that had more than $400 million invested in it.
@otea-app
@otea-app 6 ай бұрын
lol
@MOG214
@MOG214 7 ай бұрын
good video
@DrRichardMarques
@DrRichardMarques 9 ай бұрын
Great and inspiring! 👏
@cyrellroberson9698
@cyrellroberson9698 8 ай бұрын
Inspiring! Go Bears!
@vivekar6289
@vivekar6289 5 ай бұрын
Wow it's true if we have passion we can get through hardest days and not give up
@JG-dy2hk
@JG-dy2hk 2 ай бұрын
I was in Kuwait in 2012 and restaurants including fast food were being delivered by independent contractors.
@omaressam1081
@omaressam1081 7 ай бұрын
When he mentioned the MBA it made me certain that Asian parents will be Asian parents
@Laralove14927
@Laralove14927 8 ай бұрын
I’m curious as how their company was so successful when it wasn’t much different than any of the other companies
@user-ou9mn8pj5c
@user-ou9mn8pj5c 8 ай бұрын
They said it in the video. They targeted restaurants with great quality food and so indirectly people started talking and ordering from Caviar.
@cyrellroberson9698
@cyrellroberson9698 8 ай бұрын
I think they came out before the other companies
@cjxreyes
@cjxreyes 9 ай бұрын
Their company must have become a threat to others that other business shark had to buy theirs for a hundred million dollars.
@Mr_danny20
@Mr_danny20 4 ай бұрын
WOw I love this
@AlanSmith88888
@AlanSmith88888 5 ай бұрын
Wish I could do this too
@RaySunbae
@RaySunbae 8 ай бұрын
One of very few success stories where alcohol helped make a lifechanging choice.
@JJ-rp2df
@JJ-rp2df 5 ай бұрын
Inspiring story of grit against all odds, David and Goliath.
@stackmaster2851
@stackmaster2851 6 ай бұрын
Caviar was the best food delivery app for drivers and customers until door dash ruined it.
@saulgoodman2018
@saulgoodman2018 9 ай бұрын
He sold it to square for $90 million. So he built a $90 million company. Not a $400 million dollar.
@mc0000
@mc0000 9 ай бұрын
What did you build?
@saulgoodman2018
@saulgoodman2018 9 ай бұрын
@@mc0000 What does that have to do with anything?
@Official-D.W.
@Official-D.W. 9 ай бұрын
It was later bought by DoorDash for 410 million, so thereby built a 400M app 😒
@saulgoodman2018
@saulgoodman2018 9 ай бұрын
@@Official-D.W. You do not count it after he had sold it.
@abacus7547
@abacus7547 9 ай бұрын
@@Official-D.W. yes he was basically screwed
@milyonerhoca4118
@milyonerhoca4118 5 ай бұрын
Worthy
@anthonywatts9139
@anthonywatts9139 9 ай бұрын
He should ask can he have stocks and shares in the company to so money will still be coming in from that company
@SVL_Drama
@SVL_Drama 7 ай бұрын
🎉🎉
@user-qh2hb1bd2m
@user-qh2hb1bd2m 9 ай бұрын
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!
@Windarti30
@Windarti30 9 ай бұрын
"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. "
@ricardoxelmundo5330
@ricardoxelmundo5330 8 ай бұрын
Love Ikes!!!
@TalesOfTrillions
@TalesOfTrillions 2 ай бұрын
When life gives you failing startups, make a sandwich... or in Caviar's case, an entire food delivery empire!
@Outcome_Agent
@Outcome_Agent 9 ай бұрын
Pineapple fraternity !!!!!
@randomsh-t917
@randomsh-t917 9 ай бұрын
After almost a hundred years. Any other Pineapples made it big?
@dougradtke
@dougradtke 2 ай бұрын
@@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
@BekeeChisomaga
@BekeeChisomaga 9 ай бұрын
It's estimated that Americans will need more than $1 million to retire comfortably, but I found most of us aren't bullish about meeting that goal. I've been sitting on over $750K equity from a home sale and I want to invest on the stock market, how do I achieve this?
@pinned.bymarktilbury2858
@pinned.bymarktilbury2858 9 ай бұрын
American workers are losing ground on retirement readiness and increasing the risk of outliving their assets, we all need to do more to help improve the savings and retirement security in the country, If you're not who understands strategies to invest in wisely, seeking help would be the best
@CarlRunefelt-yf7lv
@CarlRunefelt-yf7lv 9 ай бұрын
I wouldn't mind speaking with the Adviser that assists you. I truly want to improve my retirement funding because I plan to retire in three years.
@stephengardner8603
@stephengardner8603 9 ай бұрын
Made my first withdrawal last week and I wasn't really happy with myself cause I was skeptical which made me invest so low meanwhile I'm on my second trade with Lauren Krawcheck and this time I invested big.
@YourrichBFF-su9bw
@YourrichBFF-su9bw 9 ай бұрын
I've never seen or heard any of Mrs Lauren Krawcheck clients complain of loss. I think she’s just too perfect
@lucascarlifornia1029
@lucascarlifornia1029 9 ай бұрын
I met her last year for the first time at a conference in London, I invested £50,000 and traded in one month making close to £200,000
@thea-listtv312
@thea-listtv312 9 ай бұрын
it's his cute kind face for me.
@charleslwin9397
@charleslwin9397 9 ай бұрын
PAPHI!!!!! Brotherhood!
@mujjammilbillah
@mujjammilbillah 4 ай бұрын
how it was different from Uber Eat? What was the USP ?
@districtnerfco.8390
@districtnerfco.8390 9 ай бұрын
$20-30 In delivery fees 🤔 Is this not an exaggeration?
@tylerbhumphries
@tylerbhumphries 9 ай бұрын
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 $38 (delivery, service, and I think something called “local” fees…whatever that means). This is not including tax and tip for the driver. Needless to say we canceled the order. I live in Missouri by the way. That was so ridiculous.
@Wheelztotheworld
@Wheelztotheworld 9 ай бұрын
@autobotdiva9268
@autobotdiva9268 8 ай бұрын
never heard of them
@edum.6353
@edum.6353 Ай бұрын
beautiful story.... 100 million in his bank account for a simple app
@JosephLee2012
@JosephLee2012 5 ай бұрын
I think you should get a MBA too since you are too smart not to get it. You are a genius.
@lastestmovietrailers9390
@lastestmovietrailers9390 9 ай бұрын
How much loses it is having each month?
@user-sk3tn2ek8q
@user-sk3tn2ek8q 5 ай бұрын
How much did they make each ?
@gambaridup
@gambaridup 8 ай бұрын
And what happen to Sean Sal the founder in November 2023, is he still around ?
@MayorMcC666
@MayorMcC666 4 ай бұрын
he picked a great time to sell!
@djcardwellai
@djcardwellai 7 ай бұрын
How is this different from Doordash?
@Minimalici0us
@Minimalici0us 8 ай бұрын
Life is made. Back to the hamster wheel for me until I also come up with an idea ⏳
@saratemp790
@saratemp790 9 ай бұрын
Everytime i tried to get a business started, my friends flaked out. My friends sucked.
@emeksb4823
@emeksb4823 9 ай бұрын
Maybe we can be friends to start up something.
@saratemp790
@saratemp790 9 ай бұрын
@@emeksb4823 ha ha. Maybe. Actually I'm too old now, don't have the energy.
@emeksb4823
@emeksb4823 9 ай бұрын
@@saratemp790 ok no worries.
@MayorSom
@MayorSom 9 ай бұрын
Underwhelmed by these delivery startups. In fact all of these fluffy startups are just ticking time b*mb
@Dah2291
@Dah2291 9 ай бұрын
400$ million is overvalued ,
@rickybobby7775
@rickybobby7775 9 ай бұрын
Lol same. Been there, done that.
@Chris-el4hd
@Chris-el4hd 6 ай бұрын
interesting. Rich people food app, vs poor people food app.
@S6OOL
@S6OOL 2 ай бұрын
9:03 So true..!
@FCocomilano2019
@FCocomilano2019 9 ай бұрын
COOL
@estuardoe8
@estuardoe8 7 ай бұрын
Never heard of them
@Play4Vida
@Play4Vida 7 ай бұрын
he needed to stay with it longer
@kennethgimpayan3418
@kennethgimpayan3418 9 ай бұрын
amazing story. if only.... hahah
@RoddieSimmons
@RoddieSimmons 9 ай бұрын
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.😎
@likeasambud9817
@likeasambud9817 9 ай бұрын
So you click on the video
@RoddieSimmons
@RoddieSimmons 9 ай бұрын
@@likeasambud9817 100%
@chewytrades1982
@chewytrades1982 9 ай бұрын
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
@limlth
@limlth 8 ай бұрын
Hence the mom’s push for b school
@DeliaSlucutt
@DeliaSlucutt 9 ай бұрын
He should do an MBA defo 😂
@AIlysAI
@AIlysAI 9 ай бұрын
Go Bears!
@TNexpert
@TNexpert 8 ай бұрын
Never heard of it
@tiredtechie
@tiredtechie 5 ай бұрын
I remember using caviar on the web in 2015 pre app days working in the app space at a Wework in nyc. Fun days
@failureisthegoal3042
@failureisthegoal3042 8 ай бұрын
I worked for company. They would keep your TIPS and pay you with that. The customer was not aware of this. A way for free slave labor
@elir.torres8642
@elir.torres8642 6 ай бұрын
So, Caviar became DoorDash. Let me tell you at $5 dollar orders DoorDash has collapsed. This is an wnd of an era.
@user-kv5wd6th4g
@user-kv5wd6th4g 9 ай бұрын
P A WHAT
@bwdotaclips
@bwdotaclips 4 күн бұрын
9:10 This answer has nothing to do with her question lmao
@decaprio7421
@decaprio7421 9 ай бұрын
He could have sell it for a billion dollar!
@Mike604
@Mike604 5 ай бұрын
he can live with millions don't worry
@tastychicken3966
@tastychicken3966 6 ай бұрын
Anyone wants to team up building something?
@saarthshah
@saarthshah 9 ай бұрын
Go bears!
@jonathansweet1201
@jonathansweet1201 6 ай бұрын
Hows this app different than DoorDash??
@kenana3456
@kenana3456 6 ай бұрын
it's not at all, there are so many apps like it, and before it.
@123shortvideos9
@123shortvideos9 7 ай бұрын
Is about surrounding yourself with the right people. All of them are multimillionaire by themselves
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