The value of plant-based burger maker Beyond Meat more than doubled on an incredible first day on the stock market.
The California-based company’s shares started off at $25 each, and soared throughout the day finishing at $68.75 – valuing the company at nearly $3.8bn.
The surge was the biggest increase in valuation for any company on its debut listing since 2008.
The interest in meat alternatives has accelerated dramatically in recent years, and Beyond Meat is at the forefront of the plant-based revolution.
The company has aggressive plans to expand outside of the US, and will use the money to compete with the meat industry and other vegan meat companies around the world.
Beyond Meat celebrated its launch on Instagram, claiming to be the first meat alternative brand to go public.
Speaking at the stock market launch yesterday, founder Ethan Brown said the company had identified an ‘enormous opportunity for economic growth in rural America and throughout the world’.
US sales of plant-based meats have risen 42 percent since March 2016, while in the UK sales increased by 18 percent in the past year as traditional meat sales fell by 2 percent.
Beyond Meat burgers are created primarily using protein from peas, fava beans and soy to mimic the taste and texture of meat.
“We understand the composition of meat, we understand the architecture and year after year we collapse the gaps between our product and animal protein,” Brown explained.
The company’s main product is the Beyond Meat Burger patty, but it also recently introduced a vegan ground beef alternative and has a plant-based sausage range.
The company’s investors investors include Leonardo DiCaprio and Bill Gates
One of Beyond Meat’s main competitors, Impossible Foods, has partnered with Burger King to launch a plant-based ‘Impossible Whopper’, which is set to be rolled out across the US.
What do you think of Beyond Meat’s burgers? Tell us in the comments section below!
Vegan culture, food, beauty & more
- Totally Vegan Buzz Team
- 23rd July 2019
The wonderful vegan community is filled with individuals from all different kinds of backgrounds and lifestyles, each with their own unique story and path to veganism. At Totally Vegan Buzz we felt it was about time to celebrate how far we’ve come and prove to the world that #AnyoneCanGoVegan! From ex-butchers and hardcore carnivores to …
- Oli Gross
- 18th July 2019
Game of Thrones had viewers around the world well and truly under its spell for the spectacular final season this year. The show, based on George R. R. Martin’s novels, has gripped audiences with its endless plot twists, complex characters, nudity, gore and violence. But despite the show’s abundance of unsavoury characters, the cast is …
All the quizzes you love to binge!
- Marlon Farrugia
- 13th October 2019
Spook Season approaches. There will be ghosts, goblins, ghouls, and glucose. You need a costume, and you want to it to show off your personality, which means VEGAN. But what to choose? Take our quiz to find out your perfect outfit. Marlon Farrugia Marlon Farrugia is a freelance writer from Brighton. He has been a …
- Marlon Farrugia
- 26th September 2019
“If you were a vegetable, what kind would you be?” A question that has tormented humanity throughout the ages – until now. Read: QUIZ: If you score 19/20 on THIS quiz, you’re a Vegan God Marlon Farrugia Marlon Farrugia is a freelance writer from Brighton. He has been a dedicated vegan for many years, and …
QUIZ: Take this personality test and we’ll reveal if you’re a Junk Food Vegan or a Health Food Vegan
- Marlon Farrugia
- 12th September 2019
For some, it’s a diet. For others, it’s an excuse to load up on carbs. Which kind of vegan are you? Take this Extremely Scientific Quiz and find out. Marlon Farrugia Marlon Farrugia is a freelance writer from Brighton. He has been a dedicated vegan for many years, and animal rights is a strong theme …