Blue Apron shares plunged Monday after Amazon registered a U.S. trademark — "We do the prep. You be the chef" — suggesting the e-commerce giant's latest push is to break into meal-kit delivery, per CNBC.
Why it matters: The move underscores Amazon's heightened interest in becoming a key player in America's grocery sector, following its pending deal to purchase Whole Foods and its push to become a leading food-delivery provider. As a result, Amazon is increasingly becoming a major threat to smaller, more niche companies in the market — like Instacart and Blue Apron — who aren't able to compete with the resources Amazon has access to.
Our thought bubble: The move also reflects how big tech companies are not only going after legacy companies, but are essentially copying newer startups.