News that blue The apron is Sell himself to Wonder Group – Marc Lore’s latest product – for about $00 million marks the end of the former startup’s life as a public company.
Blue Apron raised a $135 million Series D back in 2015 for its meal kit business before going public in mid-2017 at a valuation of just under $1.9 billion. That number fell to double-digit millions before Wonder agreed to buy it for $13 in cash per share. The deal is valued at $103 million and represents a strong premium to the company’s prior value – approximately 77% above its “30-day volume-weighted average price” for each issue, and 137% above its value as of year-end. Trading on Thursday.
How Blue Apron got to where it is today is an interesting story, and one we should trace from the company’s IPO to today.
Rewind the clock
While Blue Apron has gone public, TechCrunch has been impressed by its growing range:
The company is showing an incredible amount of growth. Blue Apron said it had revenue of about $800 million in 2016, up from $341 million in 2015. For the first quarter of this year, Blue Apron said it had revenue of $245 million, up from $172 million in the quarter The first of last year.
However, after targeting a price range of $15 to $17 per share in its IPO, the company later lowered its ambitions to $10 to $11 per share. Blue Apron sold shares in its debut for $10 per unit Barely defend this price point During the first day’s trading.