Blue Apron, which delivers ingredients for meals people can cook at home, on Wednesday slashed the range of its initial public offering.

The company now estimates it will price its IPO at $10 to $11 a share, down from the $15 to $17 a share it initially expected.

The new pricing range implies a valuation of up to $2.08 billion, compared with $3.2 billion earlier.

Last week, the company submitted a filing that kicked off the process to go public on the New York Stock Exchange under the symbol "APRN." Blue Apron had said it hoped to raise $100 million with its IPO.

The company is now in the final stages of preparing to go public in an already competitive meal-kit landscape.

Amazon, which is preparing to buy Whole Foods in a $13.7 billion deal, has tested food delivery, through its AmazonFresh offering, and meal kits, which deliver ingredients and recipes to Prime subscribers.

New York-based Blue Apron, though, still holds the title of being the largest U.S. meal-kit delivery service.