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Blue Apron Hits All-Time Low as Amazon Suggests It Will Get Into the Meal-Kit Business

posted by martyb on Wednesday July 19 2017, @01:56PM   Printer-friendly
from the food-for-thought dept.

Fnord666 writes:

Blue Apron shares dropped sharply Monday morning, accelerating the slide since their debut amid fresh signs of competition from Amazon.

The e-commerce giant has registered a trademark in the U.S. for a service described as: "We do the prep. You be the chef," according to a filing previously uncovered by The Sunday Times, based in the U.K.

Blue Apron shares hit an all-time intraday low of $6.45 a share, according to FactSet, and the stock was last down more than 10 percent.

Blue Apron, a meal-kit delivery service backed by major investors including Fidelity, Bessemer Venture Partners and First Round Capital, has seen shares fall after hitting the public market in late June. The stock has shed nearly 30 percent month to date.

[...] "Although it's a neat concept, the dominant players within the space will compete at a level that won't allow Blue Apron to be successful long term," Seaburg told CNBC earlier this month. "It's all about scale, it's all about relevance. You look at Kroger, Whole Foods and Amazon. They can take this section of the market over from a price perspective alone in a very short period of time."

Source: CNBC

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  • (Score: 1) by RantyRantington on Thursday July 20 2017, @05:05PM

    by RantyRantington (2096) on Thursday July 20 2017, @05:05PM (#541981)

    Wow, I didn't know I was "uncreative", "broken", "innumerate and illiterate" because I don't want to eat some form of cabbage for the next week just to avoid throwing out the remnants of a single head.

    I'm a single guy who works a lot, and I don't have a ton of time or energy to spare. For me, normal volumes of perishables purchased from the store usually result in either repetition or waste. Also, proper meal planning and shopping takes as much time as the preparation does.

    With Blue Apron (or any of the other similar services, I presume), I don't have to do the planning. I don't have to do the shopping. I have variety daily. I don't have any food waste.

    Three days of the week, my lunch and dinner is taken care of with decent food that I have cooked myself, and the rest of the week I'm free to cook or not cook as I feel inclined.

    I'm not paying extra money for the ingredients. I'm paying to save time and effort.

    I don't know if Blue Apron will survive the competition, especially from the 500lb gorilla known as Amazon, but if a service like it remains, I'll probably continue to use it.