Impossible Foods Inc. is preparing an initial public offering that could generate an estimated $ 10 billion worth of plant-based burger makers within the next year.
The Silicon Valley-based company, which recently launched its first national TV advertising campaign, is chewing to go public, either through a traditional IPO or a special purpose acquisition company (SPAC). According to Reuters on Thursday, referring to the unnamed person. Familiar with this
The $ 10 billion IPO will drop a significant $ 4 billion that the company is valued at in a private equity round in 2020, sponsors of Impossible Foods, which include venture capital investors Khosla Ventures and Horizons Ventures and Sei. The celebrity Rena Williams and Jay-Z have raised $ 1.5 billion in private equity markets.
Impossible Foods declined comment.
The company has been in a fierce battle with rival Beyond Meat Inc. BYND.
Outstanding partnerships with major retailers and grocers as well as product development efforts with McDonald’s Corp. MCD.
And restaurants Brands International Inc. QSR,
Amid shifting consumer eating habits and environmental concerns in the beef industry.