Blue Apron IPO Debacle Hasn't Killed Off Meal Kit Delivery Yet
The Blue Apron (NYSE: APRN) IPO dumpster fire may have incinerated the hope of any other meal kit delivery service going public anytime soon, but the industry itself still looks healthy enough to survive.
With the spigot of the public equity markets likely turned off for the time being, though, meal kit players will increasingly need to turn to private equity and other corporate patrons to raise cash to grow. That's the route Blue Apron rival Chef'd has taken, raising $35 million by turning to Smithfield Foods, Campbell Soup (NYSE: CPB), and online grocer Fresh Direct. The development indicates we may not recognize the meal kit business in a few years.
Image source: Getty Images.
Source: Fool.com
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