Food delivery start-up Blue Apron is considering going public, unnamed sources told Bloomberg.
Bloomberg reported an IPO is one of several capital-raising options under preliminary consideration for Blue Apron. The company delivers meal kits to be cooked at home, in the form of boxes of premeasured ingredients for a serving of a user-selected recipe.
The company would be valued at $3 billion in an IPO, the sources told Bloomberg, although its last summer 2015 funding round was at a $2 billion valuation, according to research firm CB Insights. A decision on going public would likely occur in the next year, the sources said.
The report comes as a crowded marketplace of food delivery appears to be thinning as funding dwindles. According to Proskauer's Capital Market Group, the value and number of initial public offerings is at its lowest level since 2012 amid stock market volatility, talk of a Fed rate hike, low energy prices and geopolitical concerns.