Amazon May Crush Blue Apron

Amazon's Whole Foods Deal Is Supporting This Little Known Company

Amazon's Whole Foods Deal Is Supporting This Little Known Company

This new venture by Amazon to sell their own brand of meal-kits could threaten Blue Apron's place as the largest meal-kit provider in the U.S. The biggest complaint among meal-kit subscribers is the high price, which Amazon could potentially solve.

According to a report published today by The Times, Amazon has registered a slogan that says "We do the prep".

Like many other internet startups, Blue Apron also has a history of financial losses, and it is unclear whether it can continue adding enough customers to drive growth.

The Street earlier reported Amazon's trademark application.

Following its $13.7 billion acquisition of Whole Foods Markets, Amazon recently filed a trademark application for meal kits.

Last month, Fast Company's Ruth Reader asked whether Blue Apron would even exist in five years.

While Amazon's exact plans aren't known, theoretically, every single Amazon Prime customer would already be a member of their meal-kit plan.

If you are a Blue Apron shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. Shares closed Friday at $7.36, or 26.4% below the IPO price.

Now, Amazon is causing some serious indigestion for Blue Apron, which was already grappling with fears of competition in the burgeoning business of shipping boxes of fresh, premeasured ingredients with recipes. If the company becomes strapped for cash, it may increase its borrowing capacity under a revolving credit facility or raise additional funds through equity or debt financing arrangements, the filing said. Shares declined to $6.51 which is a 35 percent drop since its initial public offering. That's less than what the company was worth when it operated as a private "unicorn" in 2015.

Blue Apron fell 9.4 percent to $6.66 at 11:19 a.m., while Amazon rose less than 1 percent to $1,008.11.

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