Impossible Foods Inc. is preparing for an initial public offering that could estimate the vegetable burger maker at about $ 10 billion next year.
The Silicon Valley-based company, which has just launched its first national television advertising campaign, is experiencing publicity either through a traditional IPO or through a so-called special purpose acquisition company (SPAC), a Reuters report said. people familiar with the matter.
A $ 10 billion IPO would significantly reduce the $ 4 billion the company cost, as part of private funding in 2020. Patrons of Impossible Foods – which include venture capital investors Khosla Ventures and Horizons Ventures and celebrities Serena Williams and Jay- Z ̵
Impossible Foods declined to comment.
The company participated in a fierce duel with rival Beyond Meat Inc. BYND,
a striking partnership with major retailers and grocery stores, as well as efforts to develop products similar to McDonald’s Corp. MCD,
and Restaurant Brands International Inc. QSR,
against the background of changing consumer eating habits and environmental concerns in the field of beef production.