- High marketing costs and concerns over churn rates have taken the steam out of the runup to the Blue Apron (NYSE:APRN) IPO.
- "The lower expectations for the startup’s IPO demonstrate the long shadow that Big Tech has cast over younger companies trying to get a piece of the action," observes WSJ's Miriam Gottfried.
- Blue Apron is valued at $2B at the bottom end of its lowered price range of $10 to $11 for the IPO, a disappointment considering that's where a funding round in 2016 valued the online meal kit player.
- On Seeking Alpha, there's caution in the air with APAC Investments, Don Dion and Struble Investment Management all wary of buying shares on the IPO's opening day.
- Previously: Blue Apron slashes IPO pricing range (June 28)