Wednesday, 22 November, 2017

Blue Apron Plummets After Amazon Files for Meal-Kit Trademark

Blue Apron's Stock Is Getting Crushed Amid Reports Of Amazon Meal Kit Trademark Amazon files meal-kits trademark, treading on Blue Apron's turf
Laurie Berry | 17 July, 2017, 19:40

If that isn't sufficient evidence that Amazon is preparing to enter the space, the product's tagline reads: "We do the prep".

Blue Apron went public at $10 a share on June 28, days after Amazon announced a $13.7 billion offer for Whole Foods Market Inc. It describes prepared food kits "composed of meat, poultry, fish, seafood, fruit and/or and vegetables and also including sauces or seasonings, ready for cooking and assembly as a meal". But if you could order a dinner kit on Amazon Prime and have it delivered to your house in an hour whenever you forget to plan dinner-and not on Blue Apron's fixed schedule-it could make a meal-kit plan even more appealing. It's a marketing truism that keeping a customer you already have is much cheaper than drumming up new ones. In the wake of that bit of news, Blue Apron's stock has dropped to its lowest point ever, down more than 9%, according to CNBC.

First Footage of Live Action Lion King Perfectly Captures the Animated Classic
Director Jon Favreau debuted footage from the new film at the D23 expo, and Jackman's absence put a nail in the coffin for some. Disney also teased its live action remake of its animated classic Dumbo , which has been given a March 29, 2019 release date.

The Jeff Bezos-led juggernaut filed a trademark application on July 6 for "prepared food kits", as reported by TheStreet.com's Laura Berman early Monday morning. The trademark application was filed by Amazon Technologies, an Amazon subsidiary.

At the time, that deal was seen as a major rival to Blue Apron, but Amazon's foray into the meal-making business ramps up the competition to another level. The stock's post-IPO range is $6.51 to $11.00.

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