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Blue Apron Slashes IPO Value as Amazon-Whole Foods Spooks Market

  • Meal-kit company cuts its market value by 34% to $2.1 billion
  • IPO follows Amazon-Whole Foods deal that soured grocery stocks
Bloomberg business news

Food Delivery Competition Heats Up With Blue Apron IPO

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Yet another food company’s stock has been sunk in the wake of Amazon.com Inc.’s agreement to buy Whole Foods Market Inc. -- and this one isn’t even publicly traded yet.

Blue Apron Holdings Inc. slashed its initial public offering price by a third on Wednesday, just hours before the stock is expected to price. The company is now selling 30 million Class A shares for $10 to $11 apiece, down from $15 to $17, according to a regulatory filing Wednesday.