Blue Apron's $2 BILLION CRASH
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- Опубликовано: 27 май 2024
- Companies like Blue Apron, HelloFresh, and Freshly all promised to revolutionize how we cook and eat… These meal kit delivery services seemed like the future of convenient dining just a few years ago.
One of the most popular ones was Blue Apron, which raised $193 million and reached a valuation as high as $2 billion. It just sold to a new food tech startup called Wonder Group for a mere $103 million. Blue Apron's stock is currently trading at around $80 million. It's lost a lot of money.
In a post-pandemic world, people are back to their regular lives which has led to fewer meals eaten at home, and these subscription companies are struggling.
For meal kit delivery startups, growth has stalled tremendously compared to 2020 record highs due to fierce competition, higher customer acquisition and retention costs, logistical challenges, and rising inflation across all categories of food.
In this episode, we'll delve into how these meal kit delivery companies got started and why they are doomed to fail.
Subscribe to @DarkModeDigest for more tech stories and insights!
- Loryn from Dark Mode Digest
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Video chapters:
00:00 Introduction to meal delivery startups
01:22 The early days of Blue Apron
03:19 The pandemic's impact on meal deliveries
04:32 Meal delivery startups failing
05:57 Why meal delivery startups fail
08:31 The future of meal delivery 
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Good video didnt realize it was from a small channel, keep up the great work
Glad you enjoyed. Yep, I’m just starting so I appreciate the love!
I mean... It's so damn expensive, how did none of the investors see that it was not a sustainable model?
yep def hard to sustain. Especially with their crazy marketing spend
Awesome video! I also wanted to note they have unrealistic prep times and require tons of dishes so they are not as convenient as you'd expect. Nothing like paying $11 a serving to use 2 pans, 2 baking sheets, spend 30 minutes pealing and cutting carrots onions potatoes then an additional 45 minutes cooking the meal yet somehow the instructions card says "10 minutes of prep". Then having to spend an additional 15 to 20 minutes cleaning dishes..
Took me 20 minutes total 2 days ago to do grilled chicken, red rice corn tortillas, and mole (bean sauce) and cost me way less.
Exactly this. One of the biggest selling propositions these companies pitch is like a 10-20 minute prep time. Maybe if you're a Michelin chef you can chop up all these veggies in a few seconds, but I'm a normal guy. They sell these kits on convenience and a nice illusion of making it seem "easier" than normal cooking since all the ingredients come pre-portioned, but it's no more convenient than just purchasing the ingredients on your own.
thats a really good callout. I thought I was the only one that couldn't prepare in the allotted time. It usually takes me 2-4x longer than what they say. Though, it is nice to have all the ingredients there for you so you don't have to shop for everything individually.
@@DarkModeDigest exactly so when it says on the ad 15 min prep 25 min cook (40 min total) I'm like awesome, I get it and it's 30 min prep 45 cook 25 cleanup (1h40m) and poof my entire evening was dedicated to a meal that still costs $11. The proportions can wildly, vary sometimes the food is overwhelming and I got tons of leftovers, and sometimes I get 3 small street tacos and am still hungry.
I could pick up Chipotle for $9 bucks have food in front of my face in 8 minutes (it's around the corner) 0 dishes and have leftovers for tomorrow (meaning $4.5 per serving) saving myself 1h32min of time... Why would I waste my time with meal prep boxes?
@@Lammalord Totally. The total time and prep work that goes into cooking is actually not worth it (for real meals). So much less costly to just buy something. But cooking can be relaxing sometimes. I usually just buy meals (I have a full-time job at uber and we get nice monthly credits that we can use on Uber Eats 😉)
Very insightful look at the meal kit delivery model, well done. You're probably right about Amazon and other large conglomerates gobbling up the market if it is to survive -- extremely hard for a relatively small startup to compete with a logistics chain as big as Amazon's.
100% Amazon has both the tech and logistics down. Most startups generally have one or the other (usually tech). It's extremely difficult to compete when you're just starting out.
I enjoyed the video. One piece of feedback for future videos: I found myself wishing for different music while listening to this in the morning lol.
thanks for the love and the feedback! I'll work on improving my audio in my future videos. Appreciate it 🫡
great analysis!
Glad you found this insightful
Good video dude... And the audio isn't as bad as a lot of other uploaders, still worth refining though.
thanks for the love! Yep, i'll look into a better mic and improve my sound for future videos
Good informative video
glad you found it insightful!
Your audio is peaking. Try finding some filter to smooth it. Also background should be snoother so it doesn't take attention away from voice over.
Good informational video i bid you luck
I think you're right, but it's not what it seems. I don't think it's actually that loud. Maybe it's clipping before the final edit.
Thanks for the feedback yall! I'll look into a better mic and improve the sound on my future videos. Right now I'm just using the standard Apple wired headphones 😅
@@DarkModeDigest ahhh crApple products, that's why it's not what it seems :p
@@DarkModeDigest try looking up some audio manipulation in your software before spending more money. There's a bunch of people that use those headphones when starting.
@@procactus9109 for sure haha
Good videos but uncomfortable background music.
Glad it was insightful! And gotcha thanks for the feedback 🫡
Fake
Not fake. Its very real