Amazon May Crush Blue Apron

Amazon May Crush Blue Apron

Amazon May Crush Blue Apron

Shares of Blue Apron, already limping after a disappointing public offering just as Amazon acquired Whole Foods, got clobbered on the news.

Amazon registered a trademark for the slogan, "We do the prep". However, since the IPO, Blue Apron's stock has plummeted, in mid-day trading on July 17, 2017, the stock traded at $6.51. About one-third of Blue Apron's value has vanished since the company went public late last month. While tech companies routinely file trademark applications and don't act on them, Amazon's move indicates it may directly compete with Blue Apron in the future. That seems on the heels of evidence of its ambitions in the meal-kit market through the form of trademark filing earlier this month.

Amazon is planning to acquire Whole Foods for nearly $14 billion, a move that put the fear of Bezos into much of the retail and grocery sector. In just the span of a few years, Blue Apron has exposed a business that generated almost $800 million in revenue in 2016 and was able to eke out a small profit in the first quarter that year.

The news follows the March launch of Martha Stewart's "Martha & Marley Spoon through AmazonFresh", where AmazonFresh customers in New York, San Francisco, Dallas and Philadelphia can purchase a Martha & Marley Spoon meal kit that includes the ingredients for a two-person meal.

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The deal between Amazon and Whole Foods announced in June marks the biggest acquisition for the world's largest online retailer.

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. (WFM) already torpedoed Blue Apron Holdings Inc.'s (APRN) IPO.

Amazon shares rose almost 1 percent to $1010.93 on Monday, up 4.4 percent for the month, while Blue Apron shares were off about 30 percent for July. Some firms declined to lend the company money because it was seen as too risky, while others weren't willing to extend as much as was requested, said the people, who asked not to be identified discussing a private matter.

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