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Freshrealm

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business2 years ago

Blue Apron's Stock Bounces Back with Job Cuts and Strategic Plan.

Blue Apron, the meal-kit delivery service, plans to streamline its business with job cuts, restructuring, and a sale of assets to FreshRealm. The company received $25 million in cash upfront and is eligible to receive up to $25 million more if FreshRealm reaches certain milestones. Blue Apron aims to become an asset-light company and focus on the growth of its direct-to-consumer business, with reduced headcount and administrative costs. The company hopes to get to profitability quicker and expand its product offerings, including new convenient options.