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   Technology StocksImpossible Foods and Beyond


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To: Ron who wrote (26)5/16/2019 9:53:37 AM
From: Glenn Petersen
1 Recommendation   of 190
 
Beyond Meat and Impossible Foods could be the Coke and Pepsi of alternative meat

Quite possible. Both companies have been able to raise huge sums of money.

Impossible Foods’ meatless burgers have made it a $2 billion company

Following Beyond Meat’s IPO, Impossible Foods says it has raised $300 million in its latest funding round.

By Kelsey Piper
Vox
May 13, 2019, 1:00pm EDT

An Impossible Burger. Impossible Foods
________________________

Impossible Foods, the alternative meat company that makes the Impossible Burger, announced today that it has raised an additional $300 million to take plant-based meat mainstream. The new round of funding was first reported by Reuters.

It’s a big fundraising haul, one that reflects the intense investor demand right now for alternatives to conventional meat. The new round of funding values the company at $2 billion, insiders told Reuters.

Impossible Foods makes a meat-free burger that tastes and cooks a lot like meat. That’s due in part to the protein heme, which the company argues is what gives meat its distinctive flavor. Impossible Foods makes its own heme from yeast fermentation. With the release earlier this year of their new recipe, the Impossible Burger 2.0, many meat-eating customers have said they can’t tell the difference between the Impossible Burger and ground beef.

It’s been a good year so far for Impossible Foods and for its competitors in the meat alternatives space. In April, Burger King announced the launch of the Impossible Whopper, and after the new burger met with eager customers and good reviews, the company announced it will start offering it at every US location. Qdoba also announced that it will be offering Impossible meat at its 730 US restaurants after a successful trial in Michigan.

Impossible Foods’ fundraising announcement comes a week after a stunning IPO for its competitor, Beyond Meat, which offered its stock at $25 and is now trading at $70. “I think [the Beyond Meat] IPO indicates that retail investors along with retail consumers are ready for something better than the meat they’ve been eating for decades,” Impossible Foods CFO Lee told Reuters. He said, though, that Impossible Foods does not immediately intend to go public.

“We believe in self-reliance. Being ready to go public is a priority for the company because we need to be operating at the highest level of rigor,” Lee said to Reuters. “But we are not in a rush, nor are we announcing an IPO filing.”

Impossible Foods’ investors include Khosla Ventures, Bill Gates, Google Ventures, UBS, Horizons Ventures, Viking Global Investors, Temasek, Sailing Capital, and the Open Philanthropy Project.

The rise of plant-based foods is actually a big deal

There’s a lot wrong with our food system — from animal cruelty to antibiotic resistance to its contributions to climate change. But people really like meat, and efforts to curb these problems by convincing people to switch away from meat haven’t worked well. There are about as many vegans and vegetarians as there were 20 years ago.

That’s where plant-based meat alternatives can step in. Products like veggie burgers, fake chicken, soy milk, and almond milk are growing in popularity and market share — and even better, they’re getting tastier and harder to distinguish from animal products.

Impossible Foods makes its products with heme, a protein cultivated from soybean roots that is credited for lending the Impossible Burger its strikingly meaty flavor. Even people who eat meat are often happy to substitute an equally tasty alternative that’s better for the world.

Beyond Meat founder Ethan Brown told my colleague Sigal Samuel that 93 percent of consumers who buy Beyond Meat also buy animal meat — and he’s fine with that. It’s a sign these products, far from being a just-for-vegans eccentricity, are going mainstream.

Impossible Foods CEO Pat Brown (no relation) told Vox the same thing in a 2017 interview, calling the vegetarian and vegan market “a complete waste in terms of our mission.” The company’s aim is to reduce meat consumption, and so selling food to vegetarians doesn’t advance that goal at all. The Impossible Burger only achieves its results for the planet when it’s sold to meat-eaters in the place of meat — and that’s who the company is targeting.

With the surge of consumer and restaurant interest in plant-based foods has come a surge in investment from titans of the meat industry. Last fall, Perdue Farms announced it was looking into its own plant-based products. Tyson Foods announced in February it was launching a plant-based product line. Since 2016, Tyson has also made investments in plant-based and lab-grown meat research and operations, putting money into the cell-based meat startups Memphis Meats and Future Meat Technologies Ltd. and in the plant-based meat startup Beyond Meat.

Of course, total investment in the plant-based meat sector remains a tiny fraction of investment in the conventional meat sector — and that will take a long time to change. Plant-based meat companies can’t produce enough burgers to displace much of the meat market yet, though that’s one of the things they are raising money to attempt to change.

It’ll probably be a long time before these alternatives can replicate the experience of a steak — though engineers are hard at work on it. In the meantime, they’re finding their niche with burgers and ground beef. Restaurants and consumers, going by the recent surge of interest, are increasingly getting on board. And investors look increasingly willing to bet on new meats.

vox.com

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From: Julius Wong5/18/2019 9:09:14 AM
   of 190
 
Brett Arends: I tried Beyond Meat’s burgers three times — here’s what I thought

marketwatch.com

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To: SI Ron (Crazy Soup Man) who wrote (13)5/19/2019 12:19:31 PM
From: Ron
   of 190
 
Just met several 'hard core vegans' who emptied the Whole Foods shelf of the Beyond Burgers.
They like them, the protein from the yellow peas is good, one said.
We tried them, compared them to good quality hamburgers and found them pretty good... but the
price was roughly three times the cost of the beef burgers. Local Burger Kings do not carry the
Impossible Burgers yet, although their employees are tired of being asked.

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To: Ron who wrote (29)5/19/2019 1:22:21 PM
From: SI Ron (Crazy Soup Man)
   of 190
 
The hard core vegans I debated with on YouTube are fanatics. After they find out these burgers were tested on rats, they will avoid it. Lots of these guys I debated with do not like the idea of a burger that is typically meat based, now veggie based. A burger is typically associated with beef.

The vegans I debated with will not kill insects, or any type of living creature. They will not eat honey as they do not like how the bees are cared for. They condone catch and release fishing because of the pain inflicted to the fish and the hook in its mouth. The vegans you say are hard core and not like the ones I ran into on YouTube.

See:
livekindly.com

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To: SI Ron (Crazy Soup Man) who wrote (30)5/19/2019 2:02:09 PM
From: Ron
   of 190
 
I'm sure those folks are out there. But then, what percentage of the population do you suppose they are?
I'm guessing very small.
veganbits.com

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To: Julius Wong who wrote (28)5/19/2019 8:59:54 PM
From: zax
   of 190
 
I tried Beyond sausage tonight. My wife bought me some at Whole Foods.

It was just OK. It tasted sort of like sausage. But the distance between sort-of like sausage and like sausage is a big one. It was not very satisfying. I won't be buying this product again.

I have not tried any Impossible foods besides the Impossible burger, but at this point, and based only upon my experience of Impossible burger vs Beyond sausage, I would dare to say that Beyond is an also-ran.

I hear through the grape vine that Impossible Foods isn't interested in an IPO at this time - increasing production capacity is their only driver right now, and an IPO would result in a loss of too much control. It sounds like they are having no issues raising capital privately.

They are spending a lot of money to expand production capacity and open new production facilities. It is very hectic, they cannot yet scale output to meet demand.

Regards,

Zax

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To: zax who wrote (32)5/19/2019 9:40:04 PM
From: Julius Wong
   of 190
 
Thanks for sharing.

I'll wait for Improved products.

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To: Ron who wrote (29)5/20/2019 4:33:51 PM
From: Labrador
   of 190
 
I was going to buy them at whole foods, but when i saw them (they looked frozen over - with some ice on them), I didn't buy them. I thought that they'd have lower calories (I don't recall what the calorie count was).

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From: Ron5/21/2019 10:35:22 AM
1 Recommendation   of 190
 
Here come 'Impossible Sausage Pizzas' at Little Caesar's
cnet.com

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From: zax5/23/2019 9:28:20 AM
1 Recommendation   of 190
 
Impossible Foods’ rising empire of almost-meat
How a burger maker became a “platform.”

engadget.com

This April Fools' Day, Impossible Foods was behind a prank video. Customers in a St Louis branch of Burger King were surreptitiously filmed eating the restaurant's flagship Whopper. First they rhapsodized about their love for beef. Then they were told they'd just eaten a plant-based Impossible Burger.
"It's made of fucking beef right here, you see that?" one customer told the camera -- expletive bleeped out -- peeling back his sandwich to reveal the monochrome disc beneath. "That's impossible. It tasted just like a Whopper should taste," said another. Cue close-ups of flames, blackened grills and fat-spitting patties.

The minute-long video announced Impossible's biggest partnership yet: a Burger King Whopper made of plant-based meat that sells for $1 more than a regular one. The deal is a stamp of approval from fast food royalty that will eventually insert Impossible's vegan patty right into mainstream America's daily dietary choices.

I've eaten Impossible meat in gua baos, salad bowls, Lebanese kafta and White Castle sliders. I'm mostly astounded at how plausibly generic it is, how unobtrusively it replaces the ketchup-and-plastic-cheese-smothered slice of gray that usually resides within a fast food bun. How enough heavy spicing or dousing in sauce could sneak an Impossible product past my taste buds, perhaps to be called out in a semi-viral moment of my own.

Tasted without accompaniments, the product has a convincing chew and toasty burnt edges but a hollow savoriness at the core. As a meat eater, I would not crave Impossible meat. If I craved a burger, though, this could go part of the way to satisfying the urge. Note that in the Burger King video, the customers' astoundment hits not when they taste the burger but when they realize they couldn't tell the difference.

This is what's revolutionary about Impossible's burger -- not that it's the best you've ever tasted but that finally there's a viable, inoffensive alternative for meat that you can find at a drive-through for less than $6.

In the trillion-dollar market for meat, inoffensive is a paradigm shift. Veggie burgers have existed in the US since the 1980s; mock meats made by Chinese Buddhists date back to the seventh century. But most meat proxies have historically either not tasted like the real thing or not aspired to.

</snip> Read the rest here: engadget.com

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