Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Impossible Food is preparing for a $ 10 billion IPO: report

Impossible Food is preparing for a $ 10 billion IPO: report



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 ̵

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

Impossible Foods declined to comment.

The company participated in a fierce duel with rival Beyond Meat Inc. BYND,
+ 3.52%,,
a striking partnership with major retailers and grocery stores, as well as efforts to develop products similar to McDonald’s Corp. MCD,
-1.01%
and Restaurant Brands International Inc. QSR,
-0.26%
against the background of changing consumer eating habits and environmental concerns in the field of beef production.


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