Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
BelGioioso - Burrata & Stracciatella
Blue Apron IPO Launches $4 Less a Share Than Anticipated

Blue Apron IPO Launches $4 Less a Share Than Anticipated

Thursday, June 29th, 2017

Blue Apron made its public debut in the New York Stock exchange, surprising the market with a lower-end launch to its projected share price.

As we previously reported, the meal kit delivery giant filed for a $100 million IPO earlier this month, and later announced a $586.5 million target. However, Blue Apron opted to launch at $10 per share instead of the higher-end $15 to $17 per share, raising about $300 million that the company plans to use for expansion, according to USA Today. Shares rose 98 cents after they began trading to $10.98 on late Thursday morning.

Blue Apron recently announced its public debut.

Reuters noted that the company’s stock saw as high as a 1% jump, despite the one-third cut in its valuation.

Since launching in 2012, Blue Apron reports:

  • Delivering more than 159 million meals to U.S households, representing roughly 25 million paid orders, from launch date to March 31
  • Revenue growth from $77.8 million in 2014 to $795.4 million last year
  • A more than tripled customer base since 2015, with more than 1 million customers ordering 8 million meals every month, according to a report from research firm S3 Partners

With a business model that looks to “eliminate the middlemen” for consumers, going public is a move that could bolster sustainability of that model, according to Managing Partner at tech investment company Goodwater Capital Eric Kim in a Blue Apron report.

Eric Kim, Managing Partner, Goodwater Capital"...How they plan to use these IPO proceeds to create that moat [around their business], other than spending on marketing, will be critical to how enamored Wall Street becomes with the stock," Kim noted, according to USA Today.

Sustainability in the meal kit delivery spectrum has continued to be of discussion as the market becomes increasingly competitive with launches from not only Blue Apron, but also Amazon, Uber, and traditional retailers.

As the retail and foodservice scape continues to shake things up, keep checking in with Deli Market News for all the latest.

Blue Apron

Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperatureBelGioioso - Burrata & Stracciatella

Have a new product, press release or story idea?

Let us know

In This Story

Blue Apron makes cooking fun & easy by sending you all the ingredients for incredible meals!

It's Pumpkin Spice Season!

Litehouse debuts a fresh look for its line of deliciously indulgent caramel dips and a limited-edition flavor: Pumpkin Spice Caramel.
View Press Release

Time to Step Up Your Fall Menu Plan; Pereg Natural Foods Gets You Started

Suffering from pumpkin spice fatigue? Here are 14 savory reasons why you still need pumpkin spice in your life.
View Press Release

New Snack Bars Take the Tahini Craze to Healthy Delicious Heights

Absolutely Gluten Free introduces TahiniBAR, the energy bar made from sesame seeds, in three exciting flavors.
View Press Release

Apex to Represent Ice-O-Matic® in MAFSI Territory 16 & 19

Sales and sales support coverage by the global ice machine manufacturer now includes multiple states in the Midwestern U.S. with personnel in four major cities.
View Press Release

HNINA Receives Chocolatier's Award

International Chocolate Salon honors Vanessa (Hnina) Morgenstern-Kenan with The Chocolatier's Award.
View Press Release

Pilgrim’s ® Teams Up with Kroger® to Donate 750,000 Meals to Support Florence Recovery Efforts

The joint effort will distribute 750,000 meals to families and local communities in the Carolinas recovering from the natural disaster that made landfall on Sept. 14.
View Press Release