I'm with the haters on this. The business is terrible. The...

I'm with the haters on this.

The business is terrible. The business model is even worse and the amount of competition is immense. On top of that, Amazon is getting into this space with a new pricing model which prices based on a per meal basis instead of a subscription basis.

But competition isn’t the biggest killer.

It is their retention rate.



Blue Apron’s retention rate is 18%, Hello Fresh at 10% and Plate at 8%.

How do you even survive when you are churning 80-90% of your customer base every year? Their churn rate validates my perception of the terrible business and terrible business model.