Executive Briefing

What happened to Blue Apron?

Marc Lore’s Wonder is putting $APRN shareholders out of their misery. Also: Nike wants more ‘everyday’ runners. And was Lulu-Mirror worth it?

Blue Apron 2022 Investor Day
Blue Apron’s 2022 Investor Day / Screenshot

One of the more unhinged things I did during the pandemic happened last May: Knocked sideways in bed recovering from a Moderna booster shot, I feverishly binge-watched several hours of Blue Apron’s inaugural Investor Day summit.

By then, the meal-kit pioneer’s stock price had fallen 98% since its 2017 IPO. Blue Apron’s prospectus declared that it had “reimagined the traditional grocery business model” and would take share from its customers’ spending on groceries, ordering takeout, and dining at restaurants — more than $1 trillion in total addressable market.

But that didn’t materialize. Despite a pandemic-era boom in home cooking, and a momentary spike in stock price, Blue Apron continued to lose share in the market it helped create — largely to Berlin-based HelloFresh — and was still unprofitable.

Chart of the Day

By the middle of 2022, the ten-year-old company was deep into turnaround mode.

The New Consumer Executive Briefing is exclusive to members — join now to unlock this 1,500-word post and the entire archive. Subscribers should sign in here to continue reading.

Dan Frommer

Hi, I’m Dan Frommer and this is The New Consumer, a publication about how and why people spend their time and money.

I’m a longtime tech and business journalist, and I’m excited to focus my attention on how technology continues to profoundly change how things are created, experienced, bought, and sold. The New Consumer is supported by your membership — join now to receive my reporting, analysis, and commentary directly in your inbox, via my member-exclusive newsletter. Thanks in advance.

Join: $20 / Month Join: $200 / Year More Options