Blue Apron Sets Terms For $480m IPO At $3B Valuation

Blue Apron will offer 30 million shares at a range of $15 to $17 apiece in its upcoming public offering. The meal-kit delivery company is set to go public on the NYSE under the ticker symbol APRN, with an expected IPO date of June 28. A midpoint pricing would raise $480 million and give Blue Apron a market value of roughly $3 billion. The startup was most recently valued at $2 billion in June 2015 with a $135 million funding.

Founded in New York in 2012, Blue Apron is a pioneer in the meal delivery market. The startup sends pre-measured ingredients to customers on a subscription basis, a business model that’s helped revenue grow from $77.8 million in 2014 to $795.4 million last year. Co-founder and CEO Matthew Salzberg owns a 30.2% pre-IPO stake in the company along with Bessemer Venture Partners (23.1%) and First Round Capital (10.2%), among other investors.

In case you missed it, we took a deep dive into Blue Apron’s original IPO filing.

Relying On Old-Fashioned Stock Picking, Lee Ainslie Reports His “Strongest Quarter” Ever

Lee Ainslie's Maverick Fund USA enjoyed its "strongest quarter in the fund's history" during the three months to the end of June. According to a copy of the firm's second-quarter letter to investors, which ValueWalk has been able to review, Maverick Fund USA gained 18% in the second quarter. Following this performance, the fund was Read More


Article by PitchBook