Blue Apron shares hit as Amazon files for meal-kit trademark

Cornelia Mascio
Luglio 17, 2017

It may be some time before we see Amazon-branded meal kits online, but the competition is already feeling the heat.

Meanwhile, Amazon's proposed acquisition of Blue Apron helped triple the value of IMPINJ Inc (NASDAQ: PI), a provider of readers and gateways that enable wireless connectivity and software that delivers Item Intelligence from endpoint reads. "You be the chef".

The meal-kit delivery service - which was forced to slash its IPO price by a third last month on worries about a threat from Amazon's merger with Whole Foods - saw its shares hit again Monday on news that Amazon is planning to launch its own meal-kit delivery service.

The Amazon application also includes: "frozen, prepared and packaged meals consisting of meat, poultry, fish, seafood, fruit and/or vegetables; fruit salads and vegetable salads; soups and preparations for making soups", and "frozen, prepared, and packaged meals and food kits consisting primarily of grains, rice, noodles, pasta or bakery products".

In early Monday trades, Blue Apron shares plunged as low as $6.51, off more than 11 percent from Friday's close and almost 33 percent below their June 29 IPO price of $10 on the New York Stock Exchange. The stock opened for trading at $10 per share on June 29. Pricing will be key for any service going forward-Blue Apron's per-serving price is similar to that of partner meal kits on Amazon Fresh (about $9.99 per serving).

Amazon has already been testing both food delivery, through AmazonFresh, and meal kits, which deliver fresh ingredients and recipes to subscribers; Amazon first experimented with AmazonFresh in 2007.

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