Impossible Foods Inc. is preparing for an initial public offering that the producer of vegetable burghers could value at around $ 10 billion within the next year.
According to a Reuters report, the Silicon Valley-based company, which had just launched its first national TV advertising campaign, chewed through a traditional stock exchange or through a so-called special procurement company (SPAC). familiar with the matter.
A $ 10 billion message would significantly dwarf the $ 4 billion the company was worth in a private financing round in 2020. Impossible Foods supporters – including venture capitalists Khosla Ventures and Horizons Ventures, and celebrities Serena Williams and Jay-Z – raised $ 1.5. billion in the private market.
Impossible Foods declined to comment.
The company was in a heated duel with rival Beyond Meat Inc. BYND,
striking partnerships with major retailers and grocery stores, as well as efforts to develop products with McDonald’s Corp. MCD,
and Restaurant Brands International Inc. QSR,
amid the changing eating habits of consumers and concerns about the environment of the beef industry.