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Impossible Foods prepping for $ 10 billion $ IPO: report

Impossible Foods Inc. is preparing an initial public tender that could value the plant-based burger maker at about $ 10 billion within the next year.

According to a Reuters report on Thursday, the Silicon Valley-based company, which just launched its first national TV ad campaign, is chewing on being listed either through a traditional IPO or a so-called special acquisition company (SPAC). familiar with the matter.

An IPO of DKK 10 billion $ Would significantly dwarf the 4 billion. Dollars that the company was worth in a private financing round in 2020. Impossible Foods’ backers – which include venture capitalists Khosla Ventures and Horizons Ventures and celebrities Serena Williams and Jay-Z ̵

1; have raised $ 1.5 billion in the private market.

Impossible Foods declined to comment.

The company has been in a tough duel with rival Beyond Meat Inc. BYND,
+ 3.52%,
striking partnerships with major retailers and grocery stores as well as product development efforts with similar McDonald’s Corp. MCD,
and Restaurant Brands International Inc. QSR,
in the midst of changing consumer eating habits and environmental concerns over the beef industry.

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