Equities

Reuters exclusively reports Impossible Foods eyes doubling valuation with new funding; market reacts

Reuters exclusively reports Impossible Foods eyes doubling valuation with new funding; market reacts

Reuters exclusively reported that investors are in talks about a new round of funding for plant-based meat firm Impossible Foods Inc worth $300-$400 million, valuing the Impossible Burger maker at as much as $5 billion. The Redwood City, California-based company is seeking to capitalize on growing consumer demand for meat alternatives. Rival Beyond Meat Inc has seen the value of its shares more than triple since going public in May and is now worth around $4.8 billion. The news sent Beyond Meat shares up.