Failed 2023

    Blue Apron

    Meal kit pioneer IPO'd at $2B then lost 98% of value. HelloFresh and Amazon crushed it.

    Founded → Closed

    2012 → 2023

    Funding Raised

    $200M

    Industry

    Food/Meal Kits

    Country

    USA

    IdeaProof AI Failure Score

    62/100
    Market Fit RiskBurn Rate RiskFounder Risk
    Market Fit Risk
    55
    Burn Rate Risk
    75
    Founder Risk
    25

    Full Analysis

    Blue Apron pioneered meal kit delivery in the US and IPO'd in 2017 at a $2B valuation. The company's stock immediately began declining as customer acquisition costs soared and churn remained stubbornly high. HelloFresh proved the model could work at global scale with better economics, while Amazon's meal kit launch spooked investors. Blue Apron's stock fell 98% from its IPO price. The company was acquired by Wonder Group in 2023 for $103M.

    Could This Failure Have Been Prevented?

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