Impossible Foods IPO: What You Need to Know

The food industry is one of the biggest markets in the world, with global revenues expected to reach $12 trillion by 2027!

For that reason, many people consider investing in food-related startups, such as Impossible Foods.

In today’s article, we’ll walk you through everything you need to know about Impossible Foods IPO, the company’s funding rounds, and financial performance.

About Impossible Foods

Impossible Foods is a private company that specialises in plant-based food substitutes. The company was founded by Patrick O. Brown and Monte Casino in 2012 and has its headquarters in Redwood City, California.

The company introduced a variety of plant-based burgers and other food items along with partnerships with various big supermarket chains across the United States.

According to a report by Reuters, the number of stores that sell Impossible Foods products has increased from 150 to 20,000 by 2021.

In 2022, Peter McGuinness became the company’s CEO, replacing the company’s founder.

How Does Impossible Foods Make Money?

Impossible Foods makes most of its revenue through the sales of its products, particularly the company’s plant-based burgers, sausages, and nuggets.

In 2021, a report by Forbes stated that Impossible Foods’ revenue in 2021 was up by almost 85% compared to 2020.

The 2021 revenue is estimated to be around $137 million, and while the company’s revenue is relatively lower than its main competitor, Beyond Meat, Impossible Foods still beats it in terms of growth rate.

In 2022, the company had to lay off around 130 people to adjust its financials, although the company achieved record sales that year, according to a report by Yahoo Finance.

Impossible Foods Funding Rounds and Top Investors

Many capital funds and partners invested in Impossible Foods over the years. As of 2023, the company has raised over $1.9 billion over 12 funding rounds. In this section, we’ll take a quick look at the most important ones:

• On September 11, 2011, Impossible Foods closed its first early-stage venture (Series A - Impossible Foods) funding round, raising $6.2 million from Khosla Ventures.
• On July 17, 2013, Impossible Foods closed its second early-stage venture (Series B - Impossible Foods) funding round, raising $25.0 million from multiple investors led by Bill Gates and Khosla Ventures.
• On Jun 27, 2014, Impossible Foods closed its first late-stage venture funding round (Series C - Impossible Foods), raising around $40.0 million from multiple investors, led by Google, Serena Williams, and Khosla Ventures.
• On September 30, 2015, another late-stage venture under the name of “Series D - Impossible Foods” raised a total of $108 million from various investors, including UBS, Viking Global Investors, Horizons Ventures, and Khosla Investors.
• In August 2017, a funding round under the name of “Convertible Note - Impossible Foods” raised over $100 million from various investors led by Temasek Holdings.
• In August 2018, another funding round under the name of “Convertible Note - Impossible Foods” raised over $114 million from various investors, led by Sailing Capital, Continental Grain Company, and others.
• On May 1, 2019, another funding round under the name of “Series E - Impossible Foods” raised over $300 million from over 43 investors, led by Temasek Holdings and Horizons Ventures.
• On March 16, 2020, Impossible Foods closed another massive funding round under the name of “Series F - Impossible Foods”, raising over $500 million from 23 investors led by Mirae Asset.
• On October 1, 2020, Impossible Foods completed a fund round under the name of “Secondary Market - Impossible Foods”, which was mainly funded by Rockpool Capital and raised an undisclosed figure.
• On August 13, 2020, another funding round under the name of “Series G - Impossible Foods” raised over $200 million from over six investors, led by Coatue.
• On November 23, 2021, Impossible Foods closed another late-stage Series H round, raising over $500 million from over six investors, led by Mirae Asset.

Impossible Foods IPO Outlook

In 2019, Impossible Foods CEO made his first comment about its IPO plans, saying that the company is ambitious but isn’t planning on going public in the foreseeable future.

Speculations about the company’s IPO future floated again in 2021. According to Reuters and other sources, they were valued at around $4 to 7 billion during that time.

Recently, the Impossible Foods CEO discussed the company’s IPO future once again. However, this time, he mentioned that an IPO would likely happen, but not in 2023.

Some reports suggest they plan to reach a valuation of around $10 billion before going public.

Wrap Up

Impossible Foods is considering an initial public offering in the near future to expand its capital and boost its growth efforts.

However, they didn’t announce any official statements regarding its IPO yet, mainly because the company is awaiting better market conditions for a better valuation.

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The information in this article is well-researched and factual. Still, it contains opinions also, and IT IS NOT FINANCIAL ADVICE and should not be interpreted as such, do not make any financial decisions based on the information in this article; we are not financial advisors. We are journalists. You should always consult with a professional before making any investment decisions. We hold no stock or interests in any of the Companies discussed on this website/app.