Meal-Kit Delivery Service Blue Apron Is Going Public
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Meal service kit Blue Apron is going public.
The company on Thursday filed the appropriate paperwork with the Securities and Exchange Commission. It will be listed on the New York Stock Exchange under the symbol "APRN."
As TechCrunch notes, the service has been expanding quite rapidly, generating about $800 million in revenue last year, up from $341 million in 2015. But Blue Apron also spent $61 million on marketing this quarter alone (as podcast listeners will know), up from $25.4 million during the same time period last year.
But number of orders per customer and average revenue per customer also dropped in the first quarter, The New York Times reports.
In their review, PCMag found that novice chefs and time-challenged foodies alike can turn out tasty, healthful meals with ease using the customer-focused subscription service.
But the meal-kit delivery business is a crowded space right now: Blue Apron faces competition from the likes of Sun Basket, Plated, Purple Carrot, HelloFresh and Home Chef, among others. Blue Apron and Sun Basket earned PCMag Editors' Choice awards, but the other services earned high marks, too.