Blue Apron's cash burn is a threat just 3 months after its IPO [The Business Insider]
Blue Apron Holdings, Inc. (APRN)
Last blue apron holdings, inc. earnings: 4/29 06:15 am
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Source: The Business Insider
Blue Apron's cash burn is a threat just 3 months after its IPO Blue Apron Let’s get this straight: Layoffs are not a sign of growth for a young money-losing company whose hoped-for explosive growth somehow had justified a “unicorn” valuation not long ago. But that’s what’s happening at Blue Apron, three-and-a half months after its IPO. In an SEC filing , the meal-kit provider disclosed that it had “implemented a company-wide realignment of personnel to support its strategic priorities” — namely laying off “approximately 6%” of its workforce across “corporate offices and fulfillment centers.” With 5,393 employees as of June 30, per its first earnings report as a public company on August 10, 6% of the workforce would amount to about 320 people. At the time, the company also reported that sales rose 18% to $238 million in the quarter. At that rate it would reach about $1 billion in annual sales. But to accomplish this, the bottom line swung from a gain of $5.5 million in th
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