“Two competitors were sold or raised money in the last four months at 1-2x revenue multiples, and Meanwhile, comparable businesses have lately commanded higher multiples than Blue Apron currently does, according to Trusz.His pick for a purchase or partnership: Walmart. “Traditional competitors are facing rapid digital and discounter disruption, and are indicating interest in meal kits,” he wrote. But many investors are likely hoping for a sale-and Trusz says that’s very possible given the likely interest by established grocers in jump-starting their positions in the business.Against estimated 2017 revenue of about a 10th that amount, there’s room to grow. and guesses it could grow even further as the grocery business evolves. Trusz estimates an $8 billion market in the U.S.The company is “turning the corner” on operational issues, wrote analyst Matthew Trusz, who focused on problems at a New Jersey distribution center that were widely publicized late last year and hurt the company’s ability to add subscribers.
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