Blue Apron’s IPO is a big flop —  here’s how it compares to other popular startups

Blue apron
Blue Apron isn’t the only IPO flop of 2017. Blue Apron

Blue Apron’s post-initial public offering performance has been a dud.

The company filed to go public on June 1 and pegged its IPO price range at $US15-$US17 per share about two weeks later.

But Amazon showed it was serious about the grocery delivery business when it announced its acquisition of Whole Foods mid-June. Blue Apron subsequently cut its IPO price range to $US10-$US11, and the shares closed at the IPO price on day one.

The stock is now down about 36% since the June 30 debut, and slumped some more this week after Amazon unveiled its rival subscription-box meal kits.

Blue Apron isn’t the only IPO flop of 2017. Snap, the year’s biggest IPO, is trading nearly 40% down from its March debut.

The chart below via data-analytics firm Alpha Hat compares Blue Apron to major venture capital backed startup IPOs at the same point in their life spans as public companies. It’s interesting that on the extremes, Fitbit had a big IPO-debut pop but is down about 83% from that day in June 2015 amid competition from companies like Apple. And, Facebook was on par with Blue Apron about three weeks in, but has since gained over 326%.

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