Gone are the days when vegan meat was derided as tasteless โ a sacrifice vegetarians made in service of a greater environmental cause. Today’s meatless meats taste just like the real thing, can satisfy the most blood-thirsty of carnivores, and are here to stay.
After testing its plant-based whopper in a Burger King location in April, plant-based food company Impossible Foods is going nationwide with the fast food chain in more than 7,000 locations.
When competitor plant-based substitute company Beyond Meat went public in early May, its stock price soared 163% in a day. The money-losing company is now valued at about $4 billion, making it the most successful IPO thus far this year.
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Despite Beyond Meat’s success going public, Impossible Foods CFO David Lee insisted Wednesday to CBS News the company has no plans to announce an IPO and is focusing instead on trying to meet the surge of demand on the heels of its Burger King expansion. “Frankly, we’re not in a rush to go public. We’re very, very focused on serving our meat eaters well and increasing our supply,” Lee said.
Read full, original article: Impossible Foods, Beyond Meat and the growth of the meatless meat market
