Homepage / Technology / Meal-kit delivery service Blue Apron starts trading at $10 a share in stock market debut
Kiçik təyyarə oyunu 1xBet 1xbet Aviator gam The way to select a Data Bedroom Service Bewertungen zu Vulkanvegas Lesen Sie Kundenbewertungen zu vulkanvegas com 3 von 5 小柳商事株式会 Mostbet Türkiye mobil uygulamasını indi Participate in A European Romance Website & Meet The Match What to anticipate in VDR Providers paribahis 717 Best Country To get yourself a Wife: Asia, Europe & Latin America Technology and Asylum Procedures Business Process and Digitalization How to begin Your Blog With no Investment Software For Modern Business Setting Up the Electronic Data Areas Greatest On-line Relationship Websites & Apps: Comparison Legal Support and Advice Intended for Small Businesses The very best Virtual VDR Providers 9 Tips for Working With Teams in Different Timezones Australian Brides Deliver Order Birdes-to-be From Quotes Korean Brides -mail Order Brides From Southern Korea Choosing a Data Place Antivirus Solutions — What to Look For within a Good Anti-virus Solution Best Alternatives of VPN Software New Step by Step Roadmap for Marijuana News Mail-order Bride Wikipedia Relationship With A Russian Mail Order Bride: Can It Develop Suitable Family? Steve Munger: These Primary Guidelines Made Me Effective In Life With Warren Buffett, Thought about All Three Guide To Choosing The Right Mailbox Order Star of the event Web Site In 2023 Few Wins $3 Million In Pennsylvania Lotto Scratcher, Strategies Trip Privately owned Internet Access Avast Review Powerful Deal Achievement Top Rated Free VPN Services Adaware Review – Is Adaware Review Right For You? Large 15 Best Countries To find a Spouse In 2023 Online dating services Reviews Ideal Legit Snail mail Order Bride-to-be Sites To Decide On In 2023 & Feedback Thailänder Brides Pleasant Thai Mailbox Order Wedding brides To Marry Thailänder Brides Get A Thailand Deliver Order Bride The principal Expenses Ukrainian Mail Order Spouse Cost Includes The Nations Just where Girls Have One Of The Best Lives, In Chart Partner Of Ukraines Spy Fundamental Was Poisoned, Officers Say The Model Ny Occasions New Restaurants And Pop-ups To Try In L A This 12 Los Angeles Situations Ways to Discover United states Marriage Details Romancescout: Your Information To On-line Relationship Evaluations, Recommendations Tes Ship Order Bride-to-be Discover A Overseas Spouse Across the internet Free With Jetbride Com Powerful Interracial Marriages Exquisite Interracial Lovers Exactly what the Best Online dating Websites? Very best Dating Web page Reviews – Find Your web Soul Mate Ways to Create Online dating sites Profiles Long Relationship Suggestions Long Relationship Suggestions How to begin a Successful Wife Search Getting married to a Russian Child The right way to Meet Delightful Ladies Around the World To recognize Know About Ukrainian Single Girls Dating The Different Types of Sugar Daddies The key benefits of Dating a Latina Top 5 International Dating Sites Russian Women Seeking Men Overseas Cookware Interracial Lovers and the Backlash Against All of them Getting the Marriage License and Wedding ceremony Done Correct How to pick the Best Web based Marriage Company Flirting Tips For Timid People Delightful Interracial Lovers Crucial Russian Females Dating Suggestions for Men Steps to create the Most of Dating An individual From Another Country Web based Top five Romantic Honeymoon Destinations Just what Soulmate? Web based Relationships Suggestions The Challenges of Dating An individual From A further Country Setting Expectations just for Online Sugar Daddy Arrangements Marital relationship License and Ceremony Why Are Latinas Heated? Getting Foreign Bride-to-be Tips on how to Propose — What’s the Best Way to Say “I Do”? Is usually Your Long Distance Marriage Moving Too quickly? Dating Etiquette — The Modern Rules of Seeing A Quick Guide to the Use of NLP in Chatbots Building Trust in Human relationships Les mariages interracials les plus réussis sont ceux basés sur l’amour & le respect Browsing through Cultural Differences in Asian Human relationships How you can Have a cheerful Marriage The right way to Fix a Relationship With out Hurting Your companion How to Spice Up a lengthy Distance Relationship The main advantages of Online Dating What is the Best Female Race to Marry? Western european Women Stereotypes Why Asian Girls Like Bright white Guys How to Succeed in On the web Relationships Top 5 Online Connections Tips Top 5 Online Connections Tips Leading Countries With Best Foreign Brides Powerful Interracial Relationships Asian Wedding Icon Meanings Where to Find a Deliver Order Star of the wedding Wedding ceremony Traditions in Ukraine For what reason Asian Girls Like Light Guys Asian Brides Via the internet Tips on how to Propose – What’s the simplest way to Say “I Do”?

Technology

Meal-kit delivery service Blue Apron starts trading at $10 a share in stock market debut

Blue Apron shares hovered near their IPO price in their first moments of trading on Thursday, rising almost 6 percent.

The start-up made its trading debut on the New York Stock Exchange under the symbol “APRN” on Thursday morning.

The company priced its IPO at $10 a share, the low end of the expected range between $10 and $11 per share. With an offering of 30 million shares, the company is looking to raise about $300 million in its IPO.

Amid growing concerns over the impact of tech giant Amazon’s pending acquisition of Whole Foods Market, the company lowered its expected IPO range to $10 to $11 a share on Wednesday, down from the $15 to $17 range it had initially forecast.

The move was unusual as only 4 percent of internet IPOs have revised their range downward since 2010, according to Dealogic.

Blue Apron is one of several start-ups attacking the food delivery business, but the first to IPO.

The unicorn start-up was valued around $2 billion in the private market, according to CB Insights estimates. Major investors include Fidelity, Bessemer Venture Parnters and First Round Capital. The company’s Series D round was priced around $13.33 a share in the private market, according to regulatory filings.

Blue Apron’s business focuses on delivering refrigerated, portioned ingredients for particular recipes.

About 12 percent of U.S. grocery shoppers bought their groceries online at some point in 2016, according to Cowen and Company.

But it’s a market that could potentially boom, according to research by NPD Group.

“It makes perfect sense that as online grocery shopping grows it will drive the adoption of meal kits,” Darren Seifer, food and beverage industry analyst at The NPD Group, said in a statement. “Online grocery shoppers can save time by not having to search through multiple websites, and they both work hand-in-hand in meeting the consumer’s need for convenience with the delivery of a fresh meal they can prepare at home.”

That said, there is fierce competition for those food delivery dollars, including from technology behemoth Amazon. Amazon agreed to buy Whole Foods in a $13.7 billion deal announced earlier this month. The acquisition builds on Amazon’s burgeoning grocery store business, and delivery business Amazon Fresh.

Blue Apron, meanwhile, has posted steeper net losses each year since 2014, according to regulatory filings. An expose by BuzzFeed News last fall highlighted extreme stress in Blue Apron’s packing facilities, where logistics were reportedly a struggle.

Rivals have had their fair share of strife.

Within the last two years, delivery app SpoonRocket was acquired, Danny Meyer-backed Umi Kitchen stalled out, citing “the trickiness of making delivery economics work out for everyone involved.” Instacart workers have staged public protests about falling tips, as the CEO is openly pinching pennies. Analysts have pushed back on Square’s Caviar business. GrubHub shares have been dinged by rumors that Facebook is entering food delivery.

— CNBC’s Leslie Picker contributed to this report.

This is breaking news. Please check back for updates.

Source: Tech CNBC
Meal-kit delivery service Blue Apron starts trading at a share in stock market debut

Comments are closed.