Blue April Meal Kit Company Plans To Go Public

New York-based Blue Apron Holdings, whose subscription-based service ships cook-at-home meal kits and wine, has begun the SEC procedure for launching an initial public offering on the New York Stock Exchange. In an earlier private capital round, the company was valued at $2 billion. The IPO documents filed with the SEC showed a first quarter (ended March 31) loss of $52 million on revenue of $244.8 million. The five-year-old company expects to continue to lose money as it pursues expansion plans. The SEC filing lists $61 million in cash and $99.6 million in debt. Since March 31, the company has borrowed another $63.5 million. [Image Credit: © Blue Apron ]