Blue Apron raises $50 million in funding
Blue Apron is a food delivery service that has raised $50 million in Series C funding led by Stripes Group. This funding round is rumored to have a $450 million valuation for the company. Blue Apron has now raised a total of $58 million in funding.
Blue Apron ships a box with fresh ingredients and instructions on food to prepare with them. Customers pay a certain amount per week. The average cost is around $10 per person and consumers usually spend in sets of three. This means that a young couple that use Blue Apron spends around $60 per week. This type of solution may be ideal for young couples that work long hours and live in big cities where access to grocery stores usually means driving out to the suburbs.
Blue Apron went from delivering 100,000 meals per month in August 2013 to 500,000 meals per month in March 2014. This means that Blue Apron has a $60 million revenue run rate. Some of Blue Apron’s competitors include AmazonFresh, FreshDirect, Plate, and PeachDish.