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Valuation Challenges of Impossible Foods

Snowflake IPO: A Rebound for the US Stock Market
Case Code: FINC175
Case Length: 9 Pages
Period: -
Pub Date: 2021
Teaching Note: Available
Price: Rs.300
Organization: -
Industry: -
Countries: United States
Themes: Valuation, Financing, Branding Strategy, Financial strategy
Snowflake IPO: A Rebound for the US Stock Market
Abstract Case Intro 1 Case Intro 2 Excerpts

Introduction

In November 2019, Impossible Foods, a plant-based meat burger maker headquartered in Redwood City, California, was in talks with investors to raise funding of between $300 million and $400 million, which it hoped would double its $2 billion valuation reported in May 2019. Its rival, Beyond Meat, saw its valuations triple in the same period after its IPO in May 2019. Beyond Meat was valued at $4.8 billion in November 2019. The global market for meat substitutes generated revenue of $4.2 bn in 2018 and was expected to grow $6.1 bn by 2023 as more customers turned vegan or cut down on their meat consumption.

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