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Blue Apron Put IPO Plans on Hold to Focus on Financials

  • Meal-kit delivery company said to delay selecting bankers
  • Company said seeking to reduce cost of acquiring customers
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Meal-kit delivery company Blue Apron Inc. has put preparations for an initial public offering on hold, people familiar with the matter said, delaying selecting bankers while it focuses on improving its financial metrics.

After starting to interview banks in September to advise on the IPO, Blue Apron has pushed back formally hiring underwriters until some time next year, said the people, who asked not to be identified because the details aren’t public.