Impossible Foods in public negotiations: Source
Impossible Foods, a plant-based meat maker, is preparing to go public, and sources familiar with the matter say the company’s value could exceed $ 10 billion. The company’s $ 4 billion valuation in last year’s private funding round is driven by environmental and ethical concerns. According to sources, Impossible is considering an IPO next year. Alternatively, you may be considering a merger with what is called special. Purpose Acquisition Company This is a shell company whose purpose is to acquire a private company by raising funds through an IPO. This means less regulatory oversight for companies wishing to publish, and increased confidence that the valuation will be achieved and funded. Impossible declined to comment. Founded in 2011, Impossible Foods sells meat-free burgers and sausages at grocery stores, and its backers in partnership with Burgerki and others include tennis star Serena Williams and rapper Jaze. It includes celebrities and states that reach has grown from 150 stores to over 20,000 stores in the past year alone. Rival Beyond Meat has a trading share of over 400%. Plant-based retail sales in the United States increased 27% to $ 7 billion in 2020, according to industry analysis reports.