Blue Apron No. 2 Holder Capital World Investors Sells Its Stake
by Jing Cao, Bloomberg
Posted: 2017-09-15 15:43:36 EST

Capital World Investors has sold its stake in Blue Apron Holdings Inc., a sign that investors are losing confidence in the beleaguered meal-kit delivery company that went public in late June.

Capital World Investors, a division of Capital Group, has fully exited its position in Blue Apron, according to a Friday filing. The investment firm reported a 12.9 percent stake as of June 30, which had made it Blue Apron’s second largest investor, according to data compiled by Bloomberg.

New York-based Blue Apron has struggled to convince investors that its products will appeal to more than a niche audience and can also successfully overcome a looming threat from Amazon.com Inc. Since going public, Blue Apron’s shares have fallen more than 45 percent. The stock rose 1.3 percent to $5.41 at 2:23 p.m. in New York.

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