Beyond Meat which is the United States plant-based, meat-maker is raising its money by giving out shares which will worth Beyond Meat at over $1bn in the debut of the firm’s stock market. Last November, Beyond Meat got launched in the UK and is expecting to price its 8.75 million shares in between each of $19 and $21. The debut at the upper price range would value Beyond Meat at $1.2bn.
The company stated that it wants to knock into the increasing acceptance of veganism and expectations to lift research and development and magnify manufacturing facilities. Beyond Meat, which is supported by investors including Microsoft founder Bill Gates and US meat producer Tyson, believes to obtain gross earnings of about $175m from the proposal. The valuation makes Beyond Meat a unicorn firm which refers to the privately possessed tech start-ups worth at $1bn or even higher. The term was coined by Aileen Lee, the venture capital investor. Unicorn firm was originally termed after the mythological creatures, as they were so rare. At present, the overall count of such unicorn firms has quickly increased and it comprises of Uber, Lyft and Pinterest.
Last August, the company’s Beyond Burger was formerly in line to get announced into 350 Tesco stores, but it got postponed by three months due to supply related issues. The company has entered a jam-packed UK market with added suppliers heading into supermarkets out of which many of them are making their own-label vegan foods. The company stated on its website that they don’t need an animal for creating meat, as they can build it straight from the plants. In Britain, veganism is becoming very popular. As per the research directed by the Vegan Society, in 2016 it projected that there were nearly 540,000 vegans across the country and it was just 150,000 in 2006.