Impossible Foods IPO: Plant-Based Meat Company May Go Public With A $10 Billion Valuation

12 April 2021

After Oatly’s IPO, the plant-based meat company Impossible Foods Inc. is rumoured to go public, expecting a valuation of $10 billion, as per reports.

After a funding round in 2020, the California-based company valued at $4 billion. It may either file for an initial public offering in the next 12 months or merge with a Special Purpose Acquisition Company (SPAC), a shell company raising funds for an IPO seeking to acquire a private company.

Founded in 2011, Impossible Foods has witnessed immense growth, with its products available in major fast food chains such as Burger King and Starbucks. It debuted its products through retail in 2019, and according to the Good Food Institute, the brand saw sales worth $7 billion in 2020.

The company, which counts Bill Gates, Serena Williams, Katy Perry and Jay-Z as investors, has not made any conclusive statements on the subject.

In 2018, Beyond Meat became the first plant-based meat company to file for an IPO. Since then, many plant-based companies have followed suit, and brands such as Eat Just, which is known for its plant-based egg, have also hinted towards going public in the near future.