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Blue Apron Shares Rise After CEO Steps Down

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Following the announcement that CFO Brad Dickerson will be the new CEO of Blue Apron, shares for the food ingredient delivery service went up 6.51%. Dickerson replaces Blue Apron founder Matt Salzberg, who is stepping down as CEO and president. Before announcing his resignation, Salzberg led the company for its first five years, taking it public in June. However since then, Blue Apron has struggled massively with shares down about 70% from their initial public offering price of $10. Blue Apron's IPO was also said to have bad timing as it was overshadowed by Amazon's $13.7 billion acquisition of Whole Foods.

Added on the 01/12/2017 13:40:26 - Copyright : Wochit

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