It also announced the acquisition of organic meal kit company Green Chef. The acquisition further expands its dietary options for customer ers and increases the threat to other meal kit competitors.
HelloFresh went public in November and saw its revenue grow to over $1 billion in 2017. That was a 52 percent increase over 2016.
In comparison, their closest competitor, Blue Apron, saw revenue grow 11 percent to $881 million.
HelloFresh boasts a customer base of 1.5 million globally, which make the meal kit service much larger than Blue Apron, whose base shrunk to 746,000. Reports say this was due to a decreased marketing spend.
It should be noted that HelloFresh includes customers who received free boxes toward their customer total. Those customers may not be active paying subscribers. By comparison, Blue Apron counts only the active paying customers.
Neither company is profitable, but HelloFresh’s net loss is smaller (and shrinking), but Blue Apron’s is growing.