As neither Salzberg nor Papas had any knowledge of the food industry they decided to bring on chef and food wholesaler Wadiak, a friend of the Salzberg family, as their food expert and Chief Operating Officer. The eventually developed the concept behind Blue Apron, with the idea of providing a cheap and convenient way for customers to cook interesting and well-balanced meals. After holding a small round of funding among family and friends, the pair began developing business ideas.

In 2011 Salzberg and Papas left their full-time jobs to pursue ideas for a start-up company. Historyīlue Apron was founded in 2012 by Matt Salzberg (“Salzberg”), Matthew Wadiak (“Wadiak”) and Ilia Papas (“Papas”).

It also provides wine subscriptions and operates an online store. We've done that over the last few years, and we're now focused on bringing them scale.Blue Apron is a food delivery company that provides subscription meal plans and accompanying recipes to customers for a weekly fee. The focus needed to be on quality and the culinary experience. “We weren't thinking about the flexibility of today's family. “Blue Apron’s past didn't address customer needs,” she said. In an interview with Food Business News in September, Linda Findley, president and chief executive officer, said a challenge the company has faced is breaking away from its past. Sales for the period are $351.7 million, down slightly from $363.4 million the year before. Quarterly sales were flat at $109.7 million when compared with the third quarter of fiscal 2021.įor the first nine months of the year, Blue Apron has incurred a loss of $87.3 million, up from the $62 million loss during the same period in 2021. 30, Blue Apron Holdings sustained a loss of $25.8 million, similar to the same period of the previous year when the company recorded a loss of $27.6 million. “Blue Apron is working to strengthen its balance sheet to maintain compliance with its $25 million minimum liquidity covenant.”įor the third quarter ended Sept. “The cost reduction plans address both near-term and long-term expenses as Blue Apron focuses on driving toward profitability in the future,” the company said. The company plans to further reduce expenses in 2023 up to approximately $50 million.

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