Mark Cuban
Mark Cuban|Sep 20, 2025 17:41
From Axios. It pertains NOT to aspiration, but to Blue Apron that came on Shark Tank. We agreed to a deal. But they tried to change the terms. So I backed out. Why does this matter ? This is from 9/15/2021. The DAY AFTER Ballmer invested his 50m But yeah. That money was for Kawhi lol Axios: "It’s not often a company co-founder agrees to step aside while also putting more money in. But sometimes you have no choice, like at Blue Apron, the meal-kit delivery service whose business has gone from bad to worse since its 2017 IPO, hit by both intense competition and customer disillusionment. To get a sense of how bad, consider that earlier this week Blue Apron shares were trading below 4, compared to their adjusted IPO price of 150. Check out this chart:  Chart by Mike Sullivan (As an aside, those with long memories will object that Blue Apron’s IPO price was 10, which is true, but in 2019 the company shrank the number of shares by converting every 15 shares into one.) Back to the main story. Blue Apron’s revenue has fallen 48% since its peak in 2017. As of June 30, Blue Apron had 51 million in cash and debt of 27 million. It burned through 14 million in cash in the first half of the year. Today co-founder and chairman Matthew Salzberg agreed to a deal in which he puts in 3 million, while investor Joseph Sanberg puts in up to 75 million. Salzburg and his father Barry have quit the board, while ceding their control by converting the supervoting shares they had to single-vote shares. The idea is to give the company a chance to turn itself around. This is what you might call a slow-cooker of a situation(Mark Cuban)
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