Delivery food service Blue Apron to go public, raise $100 million
Meal delivery service and podcast advertising staple Blue Apron filed to go public on Thursday, marking the start of its journey to become a publicly traded company.
In doing so, the company officially revealed its finances for the first time. The subscription service pulled in nearly $800 million last year but lost around $55 million overall.
Despite the lack of profit, the company has been growing at a rapid clip overall; its revenue more than doubled in 2016 and grew fourfold the previous year. Even better, that rapid growth is outpacing its growth in losses.
The financials show other hopeful signs too. The company actually managed to turn a profit in the first quarter of last year, and, on the whole, the balance sheet has stayed relatively steady by the standards of money-burning tech startups. Read more...
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COntributer : Mashable http://ift.tt/2qGdG5i
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