Blue Apron files $100m IPO

on Jun1

Emily Griffin reads a recipe for a Blue Apron meal while unpacking her box at her Lisbon Falls home on Tuesday, Dec. 6, 2016.

Derek Davis | Portland Press Herald | Getty Images

Emily Griffin reads a recipe for a Blue Apron meal while unpacking her box at her Lisbon Falls home on Tuesday, Dec. 6, 2016.

Based in New York, Blue Apron had more than 5,200 employees at the end of March, according to the filing. The company also claims more than 1.03 million customers at the end of March, up from 879,000 at the end of last year.

The company faced competition from other food delivery companies. But one of those companies, Sprig, shut down earlier this week. Spoonrocket shut down last year. Other competitors include Hello Fresh and Plated.

Blue Apron’s app for iOS and the web lets end users customize the meals that are boxed up and delivered to them each week. But other than that, much of the company’s activity lies in food and logistics. Blue Apron has developed its own fulfillment center infrastructure, for instance.

The company cited FDA regulation, ingredient sourcing, perishable food storage, changes in food costs, public health issues and the potential for consumer tastes among its risk factors. Supermarkets themselves present competition to Blue Apron as well.

Blue Apron’s venture investors include First Round Capital, SG Growth Partners and Bessemer Venture Partners. Lead underwriters for the filing include Goldman Sachs, Morgan Stanley, Citigroup, and Barclays.



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