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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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Watch video of Shares Of Blue Apron Dipped To An All-time Low. The Meal-kit Subscription Dropped To $1.81 Per Share On Tuesday. The Company Has Faced Increasing Pressures From Competition, Like HelloFresh. Big Companies Like Walmart And Amazon Entering Its Space. In March, Walmart Announced It Was Launching Its Own Line Of Meal Kits. The Company Has Struggled To Attract New Customers And Retain Old Ones Since Going Public Last June. - Blue Apron Shares Drop To A New Low - Label : Wochit -
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Blue Apron Shares Drop To A New Low

03/04/2018 21:21:24