Blue Apron Holdings, Inc. APRN debut on Thursday was a successful one as shares were higher by more than 7 percent -- although that's after the company lowered its pricing range from a range of $15 to $17 to $10.
At the end of the day, the pricing of any IPO issue is up to the investors to decide, Blue Apron CEO Matt Salzberg told CNBC. Instead of focusing on the stock price, he's committed to tackling the huge market potential it faces and the long-term picture.
"The stock price today, whether it is up, down, left, or right is really just the beginning of this new chapter in our company's life that we are really excited about," Salzberg said.
That isn't to say that Salzberg doesn't care about what investors think about his company. Rather, his focus since day one was to "build the kind of company that could be a public company" with an "ambitious" business plan to grow over the long-term.
Over the past two years, Blue Apron's business has grown 10 times. This fact signals to investors that demand for the company's meal delivery kit is "incredible" and the unit economics behind each sales is under-appreciated.
Over a three-year period, the company generated an average revenue of $900 to $1,000 from customers, is a compelling figure versus the average customer acquisition cost, he added. In fact, after six months the company is able to recoup the cost it spent to acquire a new customer.
"One of the big opportunities for Blue Apron going forward is to grow that revenue generation per customer by going into new categories so we can sell more products to the same customers we have already acquired," he said.
Related Links:
Analyst: Blue Apron's Lower IPO Pricing Is A Positive
6 Important Numbers Potential Blue Apron Investors Should Know Ahead Of The IPO
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