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SZ Day Jay-Z Katy Perry Invest in Impossible Foods Quest to E

2019-05-16 09:18 Source:6KGM.COM Edit:admin
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There are no buns to get in the way of the flavor explosion that is the 50/50 bacon burger patty. Complete with a creamy special sauce and crunchy lettuce, this might just be the best burger youve ever had.

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Around San Francisco, the burger is now available at restaurants big and small, from Gotts Roadside toCockscomb. The final, missing link is retail sales at groceries and other markets, which Impossible Foodsplansto launch later this year. In the meantime, the new round of funding will expand the companys manucturing cility and hiring in Oakland.

This hearty gluten-free brunch recipe packs plenty of protein from eggs, plus fiber from a whole box of frozen spinach.

The companys recentpartnershipwith Burger King it introduced the Impossible Whopper in April, with plans to roll it out to all 7,200 US stores by the end of the year is just one example of the publics interest in non-meat products (or at least the willingness of corporations to bet on it). The recent round of funding is also an indication: In addition to investment from institutional investors like Khosla Ventures, Microsoft co-founder Bill Gates, and Google Ventures, celebrities chipped in. The company lists Jay Brown, Kirk Cousins, Paul George, JAY-Z, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am and Zedd as individual investors.

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This 50/50 bacon burger is so flavorful it needs no cheese

Its also a sign that the company could feel the pressure from competitor Beyond Meat, which went public last week with a bang. The company priced its initial public offering at $25 per share and closed its first day on the market $65.75 (163% above its IPO price). According toMarketWatch, that makes it the best performing first-day IPO in almost 20 years. (Impossible Foods CFO David Lee told Reuters that the company is not in a rush to IPO.)

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Thats big news for the companys mission, which is to convince meat-eaters to ... not eat meat. So r this year chains like White Castle, Red Robin, and Qdoba have adopted Impossible Foods products; according to the company, the Impossible Burger is currently available in over 7,000 restaurants on two continents.

The whole plan is to eliminate the need for animals in the food chain by 2035, though that will largely depend on consumer participation, of course. The support of celebrities, st food chains, and investors is great, but it remains to be seen how quickly diners will fully eschew meat in vor of Impossibles products, despite even more damning studieslinkingbeef and dairy to climate change.

Impossible Foodscontinues its onward march toward ubiquity with a new round of funding, raising $300 million in capital. That puts the ke meat mavericks total equity at $750 million, and its valuation at $2 billion, according toReuters. What does that mean for ns of meat alternatives? A lot more of it (and eventually another flashy tech IPO).

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Jay-Z, Katy Perry Invest in Impossible Foods Quest to Eliminate Need for Meat

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