, Columnist
Blue Apron Breaks Infatuation With Growth at Any Price
Cut in IPO range suggests doubts have crept in about the wisdom of fairly full valuations for untested companies.
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It seems there is a limit to what investors are willing to pay for fast-growing companies.
For a while I wasn't so sure. Just about any tech company that was growing fast -- no matter the cost to achieve that growth -- was able to get its initial public offering off the ground at a relatively rich valuation. It was understandable. Growth is in -- or it has been until investors started panicking a bit about tech stock valuations -- and it seemed investors were desperate to own a piece of fast-growing companies as they started life on public stock markets.