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.
The Children's Investment Fund Management LLP is a London-based hedge fund firm better known by its acronym TCI. Founded by Sir Chris Hohn in 2003, the fund has a global mandate and supports the Children's Investment Fund Foundation (CIFF). Q3 2021 hedge fund letters, conferences and more The CIFF was established in 2002 by Hohn Read More
Article by PitchBook