Blue Apron Eats Up $135M At A $2B Valuation

Blue Apron has just announced that it closed a $135 million round of funding led by Fidelity Management and Research Company, with participation from existing investors. The WSJ reported last month that this round was being sought at a $2 billion valuation. Update 10:30am ET: A Blue Apron spokesperson has just confirmed to TechCrunch that this round was closed at a $2 billion valuation. Blue Apron is a company that packages up perfectly portioned ingredients and recipes that are delivered to your home once a week. The company charges about $10/meal, and has been killing it of late. Blue Apron said in the release that it was selling 3 million meals per month. At $10/pop, that puts yearly revenue at $360 million. In November, Blue Apron announced that it had surpassed one million meals sold each month, which means growth is only ramping up. Here's what Blue Apron CEO and cofounder Matt Salzberg said in a prepared statement: Our mission is to make incredible home cooking accessible to everyone. This financing will allow us to further improve the efficiency of our model, from sourcing to fulfillment, in order to bring our customers a level of quality that has never been available at scale before, This latest round of funding represents a Series D and follows a $50 million Series C in April of last year. At the time, sources valued the company at $450 million. Blue Apron has raised a total of $193 million since launching in 2012, according to Crunchbase. Blue Apron also said that it would be adding new custom fulfillment software tools and investing in automation. That, paired with new fulfillment centers, will give Blue Apron the chance to reach 99 percent of potential home cooks.
Jordan Crook

Jordan Crook is a Writer at Gigabuzz, focused on covering early-stage startups, especially those with a technology focus and great perks.

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