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Meal Kit Delivery Startup Blue Apron Could Exceed $1 Billion in Revenue Over the Next Year

The service is reportedly in talks to launch an IPO

Blue Apron
Brenna Houck is a Cities Manager for the Eater network. She previously edited Eater Detroit and reported for Eater. You can follow her on the internet at @brennahouck.

As more and more home cooking delivery services crowd the market, one of the biggest names in the game appears to be raking in the dough. Sources familiar with meal kit startup Blue Apron’s finances tell Recode that the company is on track to exceed upwards of $1 billion in revenue over the next 12 months.

The $1 billion in revenue is based on a projection, known as an annualized run rate, that estimates future revenue based on Blue Apron matching or growing its monthly sales totals.

Blue Apron declined to confirm any figures related to its financials, but — if accurate — the number could prove good news for the company that sources say is in talks to go public as an IPO. Blue Apron was most recently valued at $2 billion after it secured $135 million in investments last year. If Blue Apron created an IPO it would likely be valued at $3 billion.

The meal kit trend is a fast-growing industry, however, according to market research firm Packaged Facts, accounting for investments, no home cooking delivery services are currently considered profitable.

Blue Apron Is on Pace for More Than $1 Billion in Sales as it Preps for an IPO [Recode]

Blue Apron Might Be Cooking up an IPO [E]

Blue Apron Raises $135 Million in a New Round of Funding [E]

Is Blue Apron the Future of Home Cooking in America? [E]

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