HelloFresh says it will top Blue Apron
it could top Blue Apron’s revenue in the third or fourth quarter.
“We have huge momentum HelloFresh, the meal-kit in the U.S. market and startup backed by Rocket Internet are poised to overtake our that plans an initial biggest competitor in the public offering in Frankfurt, near term,” HelloFresh Germany, is telling investors wrote in the presentation for that it’s set to overtake potential IPO investors. “We its rival Blue Apron Inc. in have out executed Blue the U.S. in the near term. Apron across all dimensions.”
HelloFresh generated sales of 143 million euros Ahead of its planned IPO ($169 million) in the U.S. in that aims to raise as much as the second quarter, up from 300 million euros, HelloFresh 120 million euros in the first is trying to convince three months of the year, according investors it’s better than to an investor presentation Blue Apron, which has lost seen byalmost half its value since Bloomberg News. going public in June. The
If the Berlin-based startup U.S. company has struggled can sustain that growth rate, with higher costs and a decline Bloomberg News in customers, just as Amazon.com Inc.’s purchase of Whole Foods Market Inc. highlighted the growing competition in the food business.
HelloFresh, which is active in about nine markets, in August reported an increase in sales and customers in the second quarter, while New York-based Blue Apron, which sells its boxes only in the U.S., said it’s losing clients.
Blue Apron sales totaled $238.1 million in the second quarter, up 18 percent from a year earlier but down 2.7 percent from the first quarter.
In the presentation, HelloFresh compared more of its metrics with those of Blue Apron to show it’s outperforming the U.S. rival, including total meals delivered, operating profit margin and app downloads.
Still, both companies are losing money as they invest in courting new customers, according to the document.
“We generally do not comment on competitors. Our focus lies on growing the category and we believe there is space for several companies with differentiated offerings,” HelloFresh CEO Dominik Richter said in an e-mailed statement.
“What we can confirm is that we are very happy with HelloFresh’s sustained progress in the U.S. market.”