![]() Revenue has grown explosively - nearly tenfold in the last two years alone - and it even managed to turn a profit one quarter.Įlsewhere though, there were enough disconcerting signs to give some analysts pause. It made a name for itself with heavy marketing spend - fans of most major podcasts have probably heard a host sing its praises more than once.īy the standards of money-burning tech startups, the company has done pretty well for itself, according to balance sheets revealed in its IPO filing. Customers sign up to receive weekly bundles of meal kits stocked with pre-apportioned ingredients for a price that comes out to around $10 per serving. ![]() But the emergence of a new threat to the company's business model may have thrown into sharper relief some of the other potential red flags lurking in its financials.Īmazon and Whole Foods could finally convince skeptics to buy groceries onlineįounded in 2012, Blue Apron set itself apart from the rest of the subscription delivery boom with a business plan based around home cooking. "Blue Apron will be under intense scrutiny as to how they intend to create a sustainable moat around their business."īlue Apron's troubles don't stop and start with Amazon, of course. ![]() "Amazon/Whole Foods is the elephant in the room," said Goodwater Capital managing partner Eric Kim. What's to blame for this sudden change of spirits? The prime suspect is the monster marriage of Amazon and Whole Foods, the shockwaves of which have been felt by nearly every retailer that's ever touched an organic carrot. (opens in a new tab) (Opens in a new tab) Produce-related festivities aside, enthusiasm for the once hotly anticipated public offering has wilted in the past couple days as the company lowered its target opening stock price from between $15 and $17 to just $10.Ī stale day of trading that left shares stagnant at a time when young companies usually look for fresh momentum didn't do much to lift the mood among investors. A giant wall of lettuce, crates of vegetables, and gourmet food stands adorned the front of the New York Stock Exchange building on Thursday morning as meal delivery service Blue Apron celebrated its debut on the trading floor.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |