These demographics normally have less time to shop for ingredients themselves but are more likely to be interested in cooking meals from scratch. Benefits at Blue Apronīusiness model of Blue Apron Customer Segmentsīlue Apron’s subscription meal services are aimed primarily at young professionals and families with working parents. Blue Apron’s most recent round of funding in 2015 valued the Company at $2 billion. The Company now delivers nationwide, providing more than 5 million meals per month. To date Blue Apron has raised more than $190 million in venture funding, from investors including Stripes Group, BoxGroup, Peak Opportunity Partners and Aspiration Growth. With this venture funding Blue Apron set about developing its business, with Wadiak establishing a network of local supplier partners, Papas overseeing the development of an efficient and user-friendly software platform and Salzberg developing shipment channels. A second round of funding later that same year saw the Company raise a further $5 million. The Company completed its first formal round of funding in 2013, raising $3 million from investors including Salzberg’s former employer Bessemer Venture Partners. According to reports, if they began to run low on ingredients one of the co-founders would have to visit a local grocery to ensure all orders were filled. The Blue Apron team began boxing and delivering orders in August 2012, with early customers offered a choice between three meals: fish, poultry, or beef or pork. 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. Blue Apron is a food delivery company that provides subscription meal plans and accompanying recipes to customers for a weekly fee.

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