Hello Fresh comes in a distant second at 23% and Plated owns 6% share. It is surely the biggest one with a 71% market share according to a 1010data report. Analysts observe that the company is now looking to go public considering that it has hired bankers like Goldman Sachs, Morgan Stanley, and Citigroup.īlue Apron is not the only meal kit delivery service around.

In April 2014, it was valued at nearly $500 million. Its last round of funding was held in June 2015 when it raised $135 million at a valuation of $2 billion. Sanberg, First Round, Alan Gould, Eric Gould, and Nat Turner. Overall, though, it still remains unprofitable.īlue Apron is venture funded with $194 million in funding raised from investors including Jason Finger, BoxGroup, Bessemer Venture Partners, Stripes Group, Fidelity Investments, Peak Opportunity Partners, Joseph N. That is also a meteoric growth from revenues of $3 million in 2013 and $70 million in 2014. According to other reports, Blue Apron managed to turn in profits in the third quarter of 2016. The revenue is a significant increase from the $300-$400 million target that the company had laid out for its investors last year. It claims to be supplying nearly 8 million meal kits within America each month.īlue Apron is privately held and does not disclose financials, but recent reports suggest that the company may have earned revenues between $750 million to $1 billion in 2016. The company earns revenues through a subscription model that allows consumers to choose from multiple meal plans based on the number and frequency of meals required. New York-based Blue Apron has developed a successful following for its meal-kit business.

It estimates that the industry will grow to be a multi-billion dollar market over the next five years. Researcher Packaged Facts pegs the US meal kit delivery services market to be worth $1.5 billion last year. By providing recipe instructions along with pre-portioned ingredients, consumers can prepare delicious home cooked meals. Meal-kit delivery services like Blue Apron have seen stellar success in the recent past, driven by convenience offered to the consumers.

Blue apron financials