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Blue Apron stock gets toasted as Amazon cooks up rival service

Wall Street gets its first taste of Blue Apron IPO

Amazon is cooking up a plan to disrupt the meal-kit delivery business that Blue Apron helped pioneer.

Blue Apron (APRN) shares plunged as much as 11% on Monday following news that Amazon filed to trademark a prepared food-kit service. About one-third of Blue Apron's value has vanished since the company went public late last month.

Amazon's motto for the new venture -- "We do the prep. You be the chef" -- makes it sound an awful lot like 5-year-old Blue Apron, and similar meal-kit delivery services. News of the trademark application was earlier reported by the Times of London.

The Amazon service plans to focus on "ready for cooking and assembly" meals composed of meat, poultry, fish, seafood, fruit and vegetables, according to the paperwork.

Neither Amazon nor Blue Apron responded to requests for comment from CNNMoney.