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Blue Apron's share price isn't the only casualty of the Amazon-Whole Foods deal. The company intends to list its shares on the New York Stock Exchange under the symbol APRN.
Wednesday's weak pricing shows still-private firms in need of cash that.
Some Blue Apron lovers who rely on the food delivery service to fuel their week are wondering when they can get a slice of this company ahead of its highly anticipated IPO. Another concern for investors is that Blue Apron has struggled to retain its customers and has spent heavily to try and keep them coming back.
The New York company raised $300 million from the initial public offering, a smaller take than the $510 million it originally targeted.
The Amazon deal is especially pertinent to Blue Apron because its meal kits with fresh, high-end ingredients appeal to a similar customer base as Whole Foods: The top 10 percent of households by income, according to Kurt Jetta, chief executive officer of retail and consumer analytics provider Tabs Analytics. Blue Apron had lowered its price range Wednesday to $10 to $11 from its previously expected range of $15 to $17.
That was a jump from Blue Apron's April 2014 valuation of $500 million, alongside a $50 million funding round.
The unprofitable meal kit-delivery company, which touted its growth prospects to potential investors on its IPO roadshow, has leaned on its marketing strategy to build a customer base. The company had meant to price its 30 million shares between $15 and $17, but on Wednesday morning announced it would instead target a range of $10 to $11. The combination of the world's most powerful delivery logistics company with a major upscale grocery chain seems a likely guess.
Blue Apron intends to use the net proceeds from this offering to repay indebtedness, with the remainder going toward working capital and general corporate purposes.
Blue Apron's sales hit almost $800 million in 2016, more than doubling from the year before, according to its IPO paperwork.
Rozenko Pavlo, the deputy Prime Minister, said he and other members of the government were unable to access their computers. "We can confirm that Maersk's IT systems are down across multiple geographies and business units due to a cyber-attack".
She's the associate attorney general, which makes her third in command at the Justice Department behind Rosenstein and Sessions. On May 17 the Department of Justice appointed Mueller as special counsel to head up the Russian Federation investigation.
While Google is busy readying the iterative upgrades for its Pixel devices, the rumor mills have started chugging out information. Also known as " Walleye ", the Pixel 2 will be fitted with a 4.97-inch 1080p FHD display, similar to the 2016 Pixel.
The search engine made a decision to stop scanning the inboxes of Gmail free users for targeted advertisements later this year . Users can change those settings at any time, including disabling ads personalization.
Fortunately, iOS 11 comes with a new feature which will help users extract more longevity out of their device's internal storage. The iOS 11 mobile operating system now paves way to unbelievable possibilities for augmented reality in games as well as apps.
Manchester United manager Jose Mourinho has been accused of tax fraud by Spanish prosecutors during his stint at Real Madrid . Barcelona's Lionel Messi was sentenced to a 21-month jail sentence and 2.09 million euro fine previous year for tax fraud.
Hike Messenger has announced the launch of Hike 5.0, that offers new features like app themes, night mode and magic selfie. The Magic Selfie feature in Hike 5.0 uses machine learning technology to smoothen user's skin and make it radiant.
Noteworthy Stock: Rite Aid Corporation (RAD)
Russell Investments Group Ltd. bought a new stake in Rite Aid Corporation during the fourth quarter worth about $3,366,000. Moreover, FactSet Fundamentals' analysts have published three Buy, one Overweight, and two Hold ratings for Rite Aid .
New Zealand Wins a Race but Oracle Then Breaks Through
While Burling steers the boat, the crew is skippered by Australian Glenn Ashby, 39, a multihull wiz who controls the wingsail. Because Oracle won the qualifiers, the Kiwis started this America's Cup match on the Great Sound with a negative point.
Uber now lets you request a ride for somenoe else
Uber's new family feature is officially available in 30 countries around the world, with more expected to be added soon. Sometimes it's that person who had too much to drink and sometimes it's that person who doesn't know what an app is.
Dashcam video shows officer firing 7 shots into Castile car
Castile says that he's not reaching out for it while Yanez gets agitated and repeatedly says " don't pull it out " in the video. Dashcam footage showing the controversial shooting death of Philando Castile was released on Tuesday by Minnesota authorities.
Murray, Wawrinka to meet 2nd time in French Open semis
The three-time major champion is on the prowl again, striking fear in the hearts of less aggressive, opportunistic players. Svitolina rallied to beat Croatian qualifier Petra Martic 4-6, 6-3, 7-5 on Court Suzanne Lenglen .
Soy growers oppose rollback of Cuba normalization policy
The new policy will keep USA companies from doing direct financial transactions with companies controlled by the Cuban military. Marco Rubio, who helped craft the new policy , continues to sell it, with an op/ed in the Miami Herald , co-authored by Sen.
Justices could consider fight over electoral maps
Schimel had asked the Supreme Court to delay the drawing of new boundaries until after the court rules on the merits of the case. And in other areas, they said, Republicans packed Democrats into a few districts to limit their ability to control more seats.
Republicans divided as Trump reverses some Obama Cuba policy
A former Cuban soldier who arrived in the U.S.by boat in 1959, he said that that Trump measures were the right ones to take. Commercial flights and cruises between the US and Cuba are set to continue under an exemption, as US President Donald J.