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The California startup makes vegan sausages, vegan chicken and its flagship product, the Beyond Burger, a 100% vegetable burger sold in grocery stores such as Whole Foods and Kroger and served in restaurants such as TGI Fridays. The company says that the hamburger is "the closest thing to the meat" that she has ever created.
In documents filed Friday, the company said it had requested the listing of its common shares on the Nasdaq under the symbol "BYND", with an initial amount of $ 100 million.
The company reported a net business turnover of $ 56.4 million for the nine months ended September 29, 2018, up 167% over the same period of the previous year. Net losses as at September 29, 2018 amounted to $ 22.4 million.
"In the future, we intend to continue to invest in innovation, supply chain capabilities, manufacturing and marketing initiatives," the company said.
The global market for meat substitutes is expected to grow steadily, rising from about $ 4.6 billion in 2018 to $ 6.4 billion in 2023, according to market research firm MarketsandMarkets.
Research has revealed that the expansion was due to growing health concerns, including obesity and diabetes, due to the consumption of meat products.
Meat surrogate manufacturers, such as Beyond Meat, Morningstar Farms and Impossible Foods, are increasingly concerned about animal welfare and the impact of factory rearing on food. environment.
Beyond Meat was founded in 2009 and is supported by Bill Gates and Twitter co-founder Biz Stone. JP Morgan, Goldman Sachs and Credit Suisse will lead the IPO.
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