Making the impossible happen: Impossible Foods

The company, Impossible Foods Inc., was founded in 2011 by a Stanford biochemistry professor, Patrick O. Brown.
 
SHEUNG WAN, Hong Kong - July 26, 2021 - PRLog -- He strongly believed at that time that the biggest environmental problem in the world is intensive farming, in which he researched and investigated ways on how to eliminate this problem.

The research bore fruit and the company released their first product in July 2016 which is called the Impossible Burger. In comparison to the well-known beef burger, the Impossible burger patties uses 74% less water, 95% less land, and has more saturated fats, more protein, less food energy and less total fat. The Impossible Burger was then accepted by the food-chain Burger King in 2019, making it known to the national market.

Last April 8, news came out that Impossible Foods Inc. is getting ready to become a publicly listed company, in which analysts says that this plant-based burger maker could value around $10 billion or even more. This was a substantial increase on the worth of the company a year ago when it was only privately funded at $4 billion. This showcases the need and demand for alternative meat products due to ethical concerns of consumers as well as the existing environmental concerns.

Two options are being considered right now by the company, either going through IPO (initial public offering) or what companies often do, a merger with an SPAC (special purpose acquisition company).

While they are considering the two options, an IPO is expected to happen within the next 12 months if there is no conclusion with the SPAC route. A SPAC merger is currently a well-known alternative for companies that plans to go public as less regulations are applied while the valuation is higher. Technically, a SPAC is only a shell company with a purpose of raising funds in an IPO then acquire a public company.

The company has been doing quite well, as the retail sales of 2020 recorded $7 billion, which was 27% higher compared to the previous year. Many traders are looking out for the possible public listing of the company as the rival, Beyond Meat Inc. is now valued over 400% compared to its IPO listing price in 2019.

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