Tech: $2 billion meal-delivery service Blue Apron just filed to go public

The company has spent a lot on marketing.

Meal-delivery service Blue Apron has filed an S-1 to go public, and we're getting a detailed look at its financials for the first time.

Goldman Sachs is leading the offering, and Blue Apron hasn't priced its shares or said how many it plans to sell. We don't know what it wants to raise in the IPO.

The main takeaways: Revenue is growing. Losses are growing. And the company is spending a ton on marketing.

The company has posted losses, and says in the filing that it anticipates it will continue to do so.

"We have a history of losses, and we may be unable to achieve or sustain profitability," the company says in its S1.

It's losses have grown year-over year too:

2014: Lost $30.8 million

2015: Lost $47 million

2016: Lost $54.9 million

Revenues have been growing year-over-year, however. Here's what the last few years looked like in revenue growth:

2014: $77 million

2015: $340 million

2016: $795 million

The company also spends a ton on marketing. (If you've ever listened to any major podcast, you've probably heard a Blue Apron ad.) The company spent $144.1 million, or 24.8% of its revenue, on marketing in 2016. It has about $61.2 million in cash on hand.

Here's an interesting look at the ages of Blue Apron customers. Most are 25 to 34 years old. (Millennials!) This chart also comes from the S-1:

Blue Apron was founded in 2012 and has raised nearly $194 million in funding to date. It was last valued around $2 billion. The company is known for sending pre-packaged and pre-measured meal ingredients directly to customers, along with the recipes to make the meal.

We're digging through the documents now. Refresh this post for the latest.

The company has spent a lot on marketing. Read Full Story