The stock began trading in June 2017 at a lofty $1,681, but has steadily been falling since that date. On Thursday, shares were down to $5.49. And even with a big spike today, shares have still lost more than 99% of their value life to date.
The new owners plan to continue using the Blue Apron name.
Wonder, founded five years ago by the creator of Jet.com, has had struggles of its own. The company shifted away from its initial focus and now plans to use a restaurant-delivery model involving a network of kitchens, making meals based on the menus of popular chefs, including Bobby Flay, Jose Andres, Nancy Silverton, and Michael Symon.
“The Blue Apron brand and products that our customers know and love will stay the same, with more opportunity for product expansion in the future,” said Blue Apron president and CEO Linda Findley. “The transaction delivers immediate and certain value for Blue Apron stockholders at a significant premium over recent trading prices.”
