Plant-based meat brand Impossible Foods is eyeing an IPO valued at $10 billion, according to reports.
Sources familiar with the matter told Reuters the company is considering a public listing in the next 12 months. It is reportedly also weighing up a merger with a ‘special purpose acquisition company’.
Impossible Foods IPO
The $10 billion valuation is a staggering $6 billion higher than the company’s worth was back in 2020, following a series of successful funding rounds and celebrity backers.
Its latest Series G investment, led by Coatue, brought the company’s total investment to an estimated $1.5 billion.
However, Reuters said a spokesperson for Impossible Foods declined to comment on the rumors.
Last year, the food-tech giant revealed it’s working on a vegan alternative to cow’s milk – its first foray away from plant-based meat.
While the milk does not yet have a name or release date – some are predicting it will be called Impossible Milk. According to the company, the new drink looks, tastes, and behaves like cow’s milk.
Made from plant proteins, it has been created to mix well with other liquids (like coffee), as well as be foamed. It can also be used as a direct alternative to cow’s milk in recipes, without the need for other tweaks.
Plant Based News contacted Impossible Foods for comment. A spokesperson for the company said: “We have no comment about such speculation at this time.”
*This article was updated on April 9 to include Impossible Foods’ response