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HelloFresh is growing three times faster than Blue Apron and is worth twice as much

The meal-kit-delivery service went public today. Investors now have options.

A customer opens a Blue Apron meal-kit-delivery box Photo Illustration by Scott Eisen/Getty Images
Rani Molla is a senior correspondent at Vox and has been focusing her reporting on the future of work. She has covered business and technology for more than a decade — often in charts — including at Bloomberg and the Wall Street Journal.

HelloFresh, the second-biggest U.S. meal kit competitor by market share, went public today on the Frankfurt Stock Exchange. It joins its beleaguered larger competitor Blue Apron on the public markets.

So far, the market is treating their IPOs about the same. On its first day of trading, Blue Apron stock hovered around its initial trading price. HelloFresh shares opened at about $12.40 and are currently trading at $12.24.

But financially, a lot separates them.

At about $1.6 billion, HelloFresh is worth more than twice as much as Blue Apron at $800 million. HelloFresh also has higher revenue and lower net losses than Blue Apron.

HelloFresh revenue grew 53 percent in the second quarter of the year, compared with a year earlier, according to FactSet data. Blue Apron, meanwhile, grew 18 percent in the same period. We’re comparing June quarters since HelloFresh hasn’t yet released financial data for the September quarter.

Here’s a look at how Blue Apron’s and HelloFresh’s June quarters compare:

Four months after it went public, Blue Apron is currently trading 57 percent below its $10 IPO price. The company reported its third-quarter earnings this morning and beat analysts’ estimates, but its revenue growth slowed to 2.5 percent compared to Q3 2016.

Correction: An earlier version of this story misstated HelloFresh’s market value as being much lower. The earlier valuation was based on FactSet data.

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