While news of Blue Apron becoming a public company has seemingly exploded, the meal kit delivery service has surprisingly priced its shares at the low end of its expected range — hinting that it might be having trouble finding potential investors.
Blue Apron predicted that shares would be priced between $15-$17 a piece, but then dropped the predicted range to $10-$11.
While the company has reportedly never made a profit, its revenue skyrocketed to nearly double its revenue in the previous year.
As the lead company in the meal kit industry, Blue Apron’s potential may simply not be enough.
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