Homepage / Technology / As Blue Apron shares sink, rival Chef'd reels in $35 million from big names
Menyelami Dunia Slot Thailand: Keseruan dan Peluang Kemenangan Besar Menyelami Dunia Slot Thailand: Pengalaman Bermain yang Tak Terlupakan Стиль и Защита: Чехлы на Телефон и Планшет от Womux com NikaDate.com 2025: Trick Insights Before You Sign up with Elderly Sizzle: Come Across Great Hookups Over 40? | 1win APP: Descargar, Juegos, Casino, APK Chile cl 1win Punjab FC create history with historic 2-1 win against Everton FC SofiaDate Evaluation 2025: Is This Website Worth The Buzz And Cash? bets10’in Kazançlý Slot Oyunlarý Nv Casino: Przewodnik po Świecie Gier Hazardowych Casino Wazamba Online Summary Discover the best local hookup internet sites for meeting wives Leading Gay Dating Apps: My Personal Collection test Télécharger 1win Sénégal apk 1win Sénégal inscription popochka Hesap Açma Promosyonu Veren Siteler Xslot Kumar ve Güven Merkezi Get the absolute most out of your ebony bbw site source Leading Online Casino Rocketplay Evaluation Find the right partner on nymphomaniac dating website what exactly are local sex websites and exactly how can they assist you to? casino 643 Online Casino 7slots Grandpashabet 2217 Güncel Giriş Adresi Grandpashabet2217 com 5804 grandpashabet güncel Trezor Suite Official Desktop && Web Crypto Ledger Live App: Buy, Sell, Stake and Swap Crypto Hardware Wallet & Crypto Wallet Security for Crypto Shared: The 7 Things Men Want from Females What is Ledger Recover? New Feature Review 2024 What is Ledger Recover? New Feature Review 2024 Enjoy the thrill of meeting new individuals in web adult chat rooms sex 1Win Burkina Faso Parie en ligne chez le bookmaker en Afrique Grandpashabet Bahis Sitesi Güvenilirlik ve Eğlencenin Buluştuğu Adres 0053 Southern African Men – Meeting, Dating, and More (plenty of Pics) Silvana lee adult Grandpashabet Grandpashabet Resmi Güncel Giriş 7719 Enjoy a fun, protected, and unique dating experience Nuevos casinos en Argentina: expansión y regulación conforme al juego responsable Philadelphia Gay Dating: Get The Best Partners Lucky Jet официальный сайт игры от 1win games Join our community of bisexual women and discover your perfect match today Merdeka777: Daftar Situs Judi Slot Online Terpercaya Make buddies and discover love with local fetish chatroom Лучшие Онлайн Казино С Высокими Выплатами На Рулетке 2025 SecretBenefits Assessment: Prices, Characteristics and Buyer Critiques Website Resmi UIN SMH Banten Abebet Slot Sitelerinde Hoþgeldin Bonusunun Avantajlarý Maltcasino: Yeni Üyeler Ýçin Hoþgeldin Bonuslarý Opiniones sobre 1xSlots Lee las opiniones sobre el servicio de 1xslot com What you’ll want to know Take step one towards love and pleasure today Making Uses Of Prednisone Tablets Take control of your love life in order to find bbw mature lesbians today Bahis Sitelerinde Ücretsiz Deneme Bonusları Nasıl Kullanılır? Rulet Masalarında Bonuslarla Daha Fazla Kazanın Player women online dating| discover single video games women at Masalbet: En Çok Kazandýran Casino Sitesi Gambling in Australia and Modern Settlement Methods: The Rise of PayID TUAN88 Situs Main Game Online dengan Aman dan Nyaman Brit Cam Place — Singles From British Look For Pleasant Companions And Dating 1xbet Registration ᐉ 1xbet Sign Up برنامج المراهنات الرياضية تحميل التطبيق العميل Eg 1xbet Com Cassino Kto Jogos Para Cassino Online No Brasil” 1xbet Apk 1xbet للموبايل حمل تطبيق 1xbet لأنظمة أيفون و أندرويد 1xbet مصر Eg 1xbet Com Melhores Casas Sobre Apostas No País Brasileiro 2024 Casa-apostas Apresentando” قم بتنزيل 1xbet على جهاز الكمبيوتر ، وكيفية تنزيل تطبيق سطح المكتب على جهاز الكمبيوتر برنامج المراهنات الرياضية تحميل التطبيق العميل 1xbet Com How To Try Out Roulette Rules & Guide How To Win From Slots: Top Ideas To Boost Your Own Chances How To Win The Car In Gta 5 Casino Win The Particular Gta Online Scène Vehicle How To Win The Car In Gta 5 Casino Win The Particular Gta Online Scène Vehicle How To Perform Slot Machines Najlepsze kasyna bez depozytu 2025 The Best Different Roulette Games Strategy Tips In Order To Win At Roulette Promozioni effettive di 22Bet in Italia Отзывы о казино Stake от реальных игроков 2025 о выплатах и игре The Best Different Roulette Games Strategy Tips To Win At Roulette Cassinos legais no Brasil: novas regras e melhores sites Top 10 Biggest Casinos In The Usa 1xbet 보너스 받는법 및 출금 롤링조건 등 사용법 총정리 온라인카지노 Kr Your Current Reliable Partner Regarding Tent Manufacturing Online Kaszinó Játékok És Élő Kaszinó Játékok History Of Las Vegas Casinos Who Else Built It & How Sin City Emerged To Be En Güvenilir Canlı Bahis Empieza Casino Sitesi Игровые Автоматы На мнимые Деньги Играть Онлайн В Лучшие Слоты How To Available A Casino: A Detailed Six-steps Guide Gaming Paradise Is Just Around The Corner: Top Ten Casinos Throughout Las Vegas Find the right person: tips for effective singles dating over 60 10 Regarding The World’s Largest Casinos: The Greatest Casinos Ever! Gamification : la limite entre jeu vidéo et casino en ligne se brouille Ufc 302 Gdzie Oglądać Za Darmo I Na Żywo? 2 06 24 ‎Casino ua online casino club on the App Store 1xbet تسجيل الدخول للجوال قم بتسجيل الدخول إلى حساب 1xbet الخاص بك “원엑스벳1xbet 프로모션 코드 2024: Jbmax Vip! Sweet Bonanza Ücretsiz Demonstration İle Oyun Deneyimi Verde Kaszinó: Új Kaszinó Oldal Rendkívüli Bónuszokkal! Türkiye Casino Sitelerinin Adresi 2024 En Iyi Türk Online Casino En Güncel Ve Güvenilir On Line Casino Ve Bahis Sitelerinin Adresi 2024 Listesi 1xbet 모바일 앱-어플 2024, 버전, 다운로드, 설치, Ios, 안 Diocesan Development Services To The Particular North Karamoja Dds-n Sai Dwaraka In Nessun Caso Tours & Travels Pin-up On Line Casino Türkiye En İyi Canlı Casino Oyunları Ve Slot Makineleri Strategies for making a bisexual woman feel very special and loved Diamond Casino Heist The Big Disadvantage Walkthrough

Technology

As Blue Apron shares sink, rival Chef'd reels in $35 million from big names

Blue Apron’s horrendous six weeks as a public company isn’t killing off the meal-kit market.

Rival start-up Chef’d just raised $35.2 million, according to a filing this week with the SEC. Chef’d CEO Kyle Ransford confirmed exclusively to CNBC on Wednesday that pork producer Smithfield Foods invested $25 million.

Additionally, Campbell Soup contributed $10 million in the round (a deal that was announced in May), with the remaining $200,000 coming from online grocer Fresh Direct.

Chef’d is skirting the venture capital path and is instead reeling in cash from strategic investors who are seeking to adapt to digital trends in the food industry. Corporate capital gives the company a different approach to a market that features 10 or more players all vying for consumers who want meals delivered directly to their door.

“E-commerce and direct-to-consumer is an evolving space,” said Ransford, who founded the company in 2013 after a career in real estate and investing. “The strategics are ahead of the financial players in terms of understanding where the market is and what it’s doing.”

Research firm Packaged Facts estimated in mid-2016 that the market would hit close to $1.5 billion last year, and most forecasts show it expanding many times over in the next decade. That still represents a tiny fraction of the total grocery market, but all the growth is in online ordering.

Within the crowded field of meal-kit companies, only Blue Apron has tested the public markets. The results haven’t been pretty.

Blue Apron had planned to sell shares at $15 to $17 a piece and ended up cutting that price to $10 in late June. The company, which is scheduled to report quarterly results on Thursday for the first time since its IPO, has since lost 38 percent of its value, closing on Wednesday at $6.24.

Plated, another competitor in the market, said in a filing on Monday that it’s raising $12 million in debt, which could be a sign that the equity markets have soured for at least some companies in the space. Plated didn’t respond to a request for comment. Other competitors include HelloFresh, Home Chef and PeachDish.

Ransford highlighted two primary characteristics that differentiate his company from Blue Apron and other players. The first is that Chef’d, which delivers hundreds of thousands of meals a month, is not a subscription business, meaning consumers can order whenever they want and from a wide selection of over 1,000 breakfasts, lunches and dinners.

Secondly, Ransford said that Chef’d spends just 1 percent of its sales on promoting the product. Blue Apron, by contrast, spent about 25 percent of its $245 million in first-quarter revenue on marketing. Rather than offering free meals and deep discounts for newcomers and spending heavily on social media, Chef’d relies on partnerships with household brands that have big budgets.

Last year, the start-up teamed up with the New York Times to become the exclusive meal kit for the newspaper’s online cooking section, and last month Chef’d partnered with Coca-Cola to offer combination food and beverage kits. It also gets a lot of business through Amazon, where a search for “meal kits” typically puts Chef’d results at the top, and has gotten some publicity for raising money on crowdfunding sites Indiegogo and CircleUp.

“We do some discounting, but we shy away from get your first order free and deep discounting,” Ransford said. “I didn’t have to start a company to find out that you can sell a dollar for 90 cents, or 50 cents.”

It’s still a costly business that requires a hefty logistics machine. Chef’d has 350 employees, with about 85 percent of them in the company’s three warehouses: two in Brooklyn and one in El Segundo, California. Ransford said he’s opening a bigger facility in California and planning another in Texas for 2018.

Shipping is also expensive. Chef’d delivers anywhere in the country in one to two days, a requirement in a world that’s grown accustomed to Amazon. Keeping up with Amazon is more important than ever now that the e-tailer has agreed to purchase Whole Foods and moved into the meal-kit business.

Ransford said he’s not aspiring to take the company public — at least no time soon. That’s partly because of the performance of Blue Apron and the lack of public market appetite for this type of business. A bigger reason is that he’s trying to build a company in a market with a ton of complexity.

“We’re focused on managing growth,” Ransford said.

— CNBC’s Lora Kolodny contributed to this report.

Source: Tech CNBC
As Blue Apron shares sink, rival Chef'd reels in million from big names

Comments are closed.