\n<\/p>\n
News that Blue<\/span> Apron is selling itself<\/a> to Wonder Group \u2014 Marc Lore\u2019s latest<\/a> \u2014 for around $100 million marks the end of the former startup\u2019s life as a public company.<\/p>\n Blue Apron raised a $135 million Series D<\/a> back in 2015 for its meal kit business before going public in mid-2017 with a valuation of just under $1.9 billion. That figure had fallen to double-digit millions before Wonder agreed to buy it for $13 per share, cash. The transaction has an equity value of $103 million and represents a strong premium to the company\u2019s preceding worth \u2014 some 77% more than its \u201c30-day volume weighted average price\u201d per a release, and 137% above its value as of the end of trading Thursday.<\/p>\n How Blue Apron got to where it is today is an interesting story, and one that we should trace from the company\u2019s IPO through to today.<\/p>\n At the time that Blue Apron went public, TechCrunch was impressed with its rising scale<\/a>:<\/p>\n The company is showing a rather incredible amount of growth. Blue Apron said it generated nearly $800 million in revenue in 2016, up from $341 million in 2015. For the first quarter this year, Blue Apron said it generated $245 million in revenue, up from $172 million in the first quarter last year.<\/p>\n<\/blockquote>\n However, after targeting a $15 to $17 per-share IPO price range<\/a>, the company later reduced its ambitions<\/a> to $10 to $11 per share. Blue Apron sold stock in its debut for $10 per unit, and it barely defended that price point<\/a> during its first day\u2019s trading.<\/p>\n<\/p><\/div>\nRewinding the clock<\/h2>\n
\n