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Photo: Smith Collection/Gado/Getty Images

It was only a matter of time before one of the food delivery companies bought another. And yesterday, DoorDash announced it agreed to buy Caviar from Square for a whopping $410 million in cash and stock. It paid just over $44 million for it in 2014.

Why it matters: Square was trying to sell the food delivery company at least as far back as late 2015, as Bloomberg reported shortly after, and a number of companies like Uber, GrubHub and Yelp passed on it. At the time, Square was suggesting a price tag of about $100 million, which companies balked at.

  • And, according to a source familiar with DoorDash's thinking, it sees Caviar's partner restaurants and strong markets as additive to its own (meaning, not as much current overlap), making it a valuable asset to acquire, though the apps will remain separate for the time being. Still, whether it's worth the price is up to interpretation.
  • Caviar's certainly grown since then, and bolstered its corporate ordering business via its acquisition last year of Zesty.

Bonus: Postmates also took a close look at Caviar as part of the formal process Square recently ran, a source tells Axios, but ultimately didn't make an offer, finding it overpriced. It's unclear who else, if anyone at all, also seriously considered or made bids.

Go deeper

Updated 5 mins ago - Politics & Policy

In photos: The Biden and Harris inauguration

President Biden and first lady Jill Biden watch a fireworks show on the National Mall from the Truman Balcony at the White House on Wednesday night. Photo: Chip Somodevilla/Getty Images

President Biden signed his first executive orders into law from the Oval Office on Wednesday evening after walking in a brief inaugural parade to the White House with First Lady Jill Biden and members of their family. He was inaugurated with Vice President Kamala Harris at the U.S. Capitol on Wednesday morning.

Why it matters: Many of Biden's day one actions immediately reverse key Trump administration policies, including rejoining the Paris Agreement and the World Health Organization, launching a racial equity initiative and reversing the Muslim travel ban.

Republicans pledge to set aside differences and work with Biden

President Biden speaks to Sen. Mitch McConnell after being sworn in at the West Front of the U.S. Capitol on Wednesday. Photo: Erin Schaff-Pool/Getty Images

Several Republicans praised President Biden's calls for unity during his inaugural address on Wednesday and pledged to work together for the benefit of the American people.

Why it matters: The Democrats only have a slim majority in the Senate and Biden will likely need to work with the GOP to pass his legislative agenda.

The Biden protection plan

Joe Biden announces his first run for the presidency in June 1987. Photo: Howard L. Sachs/CNP/Getty Images

The Joe Biden who became the 46th president on Wednesday isn't the same blabbermouth who failed in 1988 and 2008.

Why it matters: Biden now heeds guidance about staying on task with speeches and no longer worries a gaffe or two will cost him an election. His staff also limits the places where he speaks freely and off the cuff. This Biden protective bubble will only tighten in the months ahead, aides tell Axios.