Everyone's favorite Internet monopoly Amazon looks like it's about to eat Blue Apron's lunch. Amazon just announced plans to boy high-end grocery chain Whole Foods last month in June, and has also recently filed for trademarks around prepped meal kit services-- that's Blue Apron's sole business.
Just last week, the House of Representatives' top democrat David Cicilline spoke about his concerns over Amazon's plan to buy Whole Foods, and wants to hold a hearing to examine the the deal's impact on consumers.
Blue Apron shares tumbled more than 11 percent to $6.51, a drop of nearly 35 percent since its June 29 initial public offering price of $10. The decline came as investors were concerned about its future and the impact of Amazon's planned $13.7 billion acquisition of supermarket chain Whole Foods Market Inc WFM.N amid a fast-expanding meal-kit industry.
In a filing with the U.S. Patent and Trademark Office on July 6, Amazon registered a trademark application for "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or vegetables" that is ready for cooking and assembly as a meal.
Amazon's planned service is identical to the one offered by Blue Apron, one of the largest meal-kit delivery services in the United States.
(L-R) Amazon CEO Jeff Bezos and Larry Page, CEO and Co-founder of Alphabet, sit during a meeting with U.S. President-elect Donald Trump and technology leaders at Trump Tower in New York, U.S., December 14, 2016. REUTERS
The logo of Blue Apron is shown on a large sign in front of the New York Stock Exchange before the company's IPO in New York, U.S., June 29, 2017. REUTERS/Lucas Jackson
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