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Blue Apron Says It Could Be Worth $3 Billion After Its IPO

Blue Apron Says It Could Be Worth $3 Billion After Its IPO

It's just one sentence, but it's perhaps the biggest existential threat to Blue Apron.

Blue Apron's service is pitched at buyers who want a home-cooked meal, but don't want to spend time buying groceries or menu-planning. The company has seen continued success in subsequent years. The company intends to price its 30 million shares in the range of $15 to $17, with an overallotment option for an additional 4.5 million shares.

In fact, Amazon's push into the grocery space could even help Blue Apron, as it will likely bring more technological innovation to the sector, she said.

The firm brought in nearly $800m in revenue in 2016, though it ended the year with a loss of more than $54m, according to the filing. Amazon's surprise decision to buy Whole Foods for $13.7 billion threatens to shake up the entire food business. Revenue has grown rapidly, from $77.8 million in 2014 to $795.4 million previous year. Only about 1% of grocery shopping in the U.S.is done online., while Blue Apron said in its IPO filing that its market penetration in the USA was just 0.7% in the fourth quarter of past year.

Management also plans to point out that the so-called total addressable market in the US still provides opportunities for growth, the person familiar with the matter said.




Some 1 million customers paid for Blue Apron orders in the first quarter this year.

Blue Apron's management plans to stress that its business model is different from the basic grocery delivery now offered by Amazon's Prime service and Whole Foods' partnership with Instacart, said the person, who asked not to be identified because the details are private.

So maybe Buffett will one day have some Blue Apron stock delivered to his portfolio. Should Blue Apron end up in a reverse merger with Wal-Mart, a reality that would send another SoHo-based NYC hipster startup to Arkansas, APRN stock could pop just enough to eke out a nice little return.

Blue Apron's main rival, Sun Basket, has also hired banks for an IPO, Reuters reported in March. Goldman Sachs, Morgan Stanley, Citi, and Barclays are joint bookrunners.


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