Blue Apron investors cheered late Tuesday, but new CEO Linda Kozlowski has her work cut out for her.
Blue Apron Holdings Inc. investors applauded the news that the company has hired a new chief executive, Linda Kozlowski, who was the chief operating officer of Etsy Inc. until last year, but her new job may be a tough and thankless task.
Since its IPO in mid-2017, Blue Apron has been beset with issues. It had an inauspicious beginning, after the unicorn company — with a private valuation at one time of about $2 billion — had to lower the price of its IPO range. In the nearly two years since its IPO, more competitors have arrived, its customer base continues to decline, and deals to attract new customers — such as selling its meal kits at Costco COST, -1.51% — have collapsed.
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