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Source: 30dB.com – Blue%20Apron
The meal kit company has increased in popularity for its simple concept—sending clients a box full of fresh ingredients and recipes a pre-determined number of times per week. In late June, Blue Apron decided to capitalize on that popularity with an IPO, but its stock exchange debut was underwhelming, treading water at $10 a share. That was actually better than what was to come, though, since the first meal kit company to go public is now trading at $5.25. On Tuesday, the food blog Grub Street reported more rough news: Blue Apron is facing at least four lawsuits alleging “untrue statements” in its Securities & Exchange Commission (SEC) filing. That’s not all—Bloomberg reported on Tuesday that Blue Apron has instituted a hiring freeze and its human resources executive has resigned. As for the service itself, Social gives it a reasonably good number of stars, dishing out a 61 percent positive score to Blue Apron over the last 90 days. In other words, it might be too soon for patient investors to dump this dinner. –Alex Shultz
Republished from 30dB