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Blue Apron seeks $3.2 bln valuation in IPO

Monday, June 19, 2017 - 01:10

Blue Apron Holdings said on Monday it expected its initial public offering to be priced at $15 to $17 per share, giving the biggest U.S. meal kit delivery company a valuation as high as $3.18 billion.

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Blue Apron hopes to raise as much as $510 million in its initial public offering at between $15 and $17 per share. That's according to the company's filing with the Securities and Exchange Commission. The pricing would value the meal delivery service company as high as $3.2 billion. Renaissance Capital's Kathy Smith: (SOUNDBITE) KATHLEEN SMITH, PRINCIPAL, RENAISSANCE CAPITAL, MANAGER OF IPO-FOCUSED ETFS (ENGLISH) SAYING: "We're looking forward to this IPO and many investors are looking at it. There is interest in very high-growth companies in the slow-growing company and Blue APron is grwoing very quickly, even though it is losing money, it is a fast-growth company, with unique concept, consumers are interested in it. It's going to be a well followed IPO." Blue Apron lost $55 million in 2016, but its revenue more than doubled to almost $800 million. It faces fierce competition from companies such as Sun Basket, Plated, and Hello Fresh. Sun Basket is following Blue Apron's footsteps. It hired banks for an IPO that could come in the second half of the year.

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Blue Apron seeks $3.2 bln valuation in IPO

Monday, June 19, 2017 - 01:10