Tag: Pre IPOs

Last week, SpaceX’s valuation topped $ 100 billion in a secondary stock sale. Current investors sold 755 million shares at $ 560 each. Thus, during the deal, SpaceX did not raise new capital funds. The new estimate is 33% higher than the previous $ 74 billion, which Elon Musk’s company received during the last investment round in February this year. Then the company managed to sell 850 million shares and raise almost $ 1.2 billion. Since SpaceX is not a public company, it is not obliged to disclose for what purpose the new capital is being raised. However, information appeared in the media that the space company intends to invest in the development of its Starship and Starlink projects. It is noteworthy that in September of this year, SpaceX successfully launched a crew into space, consisting entirely of space tourists. For the first time in history, civilians went into orbit without professional astronauts.

Starlink is developing high-speed internet that can be accessed from anywhere in the world. To date, SpaceX has launched 1,740 satellites into orbit as part of this project. As part of the public beta testing, the Starlink network is used by more than 100 thousand people in 14 countries around the world. The subscription fee is $ 99 per month. The preferred configuration for covering the entire planet with the Internet has almost 30,000 satellites deployed at nine altitudes, ranging from 340 km to 614 km. SpaceX noted that it has significantly improved the engines of its satellites, as well as the control system, so the risk of collision with large objects in orbit is practically zero. The Starlink project is expected to cover the earth’s axis closer to 2027.

Starship is the next generation reusable launch vehicle for space travel to transport passengers and cargo into orbit and to the surface of the Moon and Mars. SpaceX has successfully completed several short Starship test launches in South Texas. The company is currently awaiting regulatory approval for a test flight into Earth orbit. The Falcon 9 rocket can carry 60 Starlink satellites into orbit simultaneously, while the Starship can transport 400 satellites at once.

SpaceX got serious about in March 2017, when the company managed to vertically land its rocket and then reuse it. Rocket reuse is fundamental to the availability of space exploration as it drastically reduces the cost of a flight. In May 2019, SpaceX received an estimate of $ 33 billion during the next investment round, following which the company was able to raise $ 536 million. Thanks to the successful development of the Starlink and Starship projects, the company’s value tripled in 2.5 years.

Space exploration is a capital-intensive business that will not be profitable anytime soon. Nevertheless, there is high competition in the market, since the winner will not only manage to skim the cream off the market, but also run a highly profitable business with high barriers. SpaceX competes with Blue Origin, founded by billionaire Jeff Bezos, founder of Amazon, United Launch Alliance, created by aerospace giants Boeing and Lockheed Martin, sensational Virgin Galactic, created by Richard Branson, founder of the famous Virgin brand, as well as other lesser-known companies and government organizations from different countries.

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Founded in 2010, Leafly operates an online trading platform for the North American legal cannabis market. The company’s service helps customers learn about all the cannabis products featured on the platform. On the other hand, licensed manufacturers can post information about their products with the option of selling. Leafly’s mission is to provide maximum customer information about products in terms of safety, recreational value and quality in the burgeoning cannabis market. On the other hand, the platform allows you to single out individual manufacturers based on a rating system, which helps to increase audience loyalty. Leafly says the platform is used by 125 million people a year and 7,800 independent vendors.

The company’s revenue comes primarily from the monthly subscription fees paid by cannabis sellers to list their products on the Leafly platform. More than 55% of all North American licensed cannabis growers currently use Leafly’s SaaS services, according to the company. The company also makes money from advertising. It is expected that Leafly’s revenue by the end of 2021 will amount to $ 43 million, and by the next year the figure may grow to $ 65 million. It is expected that the company will enter net profit closer to 2024. In February 2021, Leafly announced a new strategic partnership with Jane, an online cannabis promotion platform. The union of the two companies, according to the management, will cause an explosive growth of online orders across North America.

Over a decade of operations, Leafly has raised $ 47 million in two investment rounds in May 2020 ($ 15.5 million) and June 2021 ($ 31.5 million). In early August, it was revealed that Leafly had made the decision to go public through SPAC in its deal with Merida Merger Corp, which raised $ 120 million through a 2019 listing. The indicative terms of the deal indicate that Leafly could be valued at $ 532 million, while the company could raise $ 161.5 million, which is planned to be used for platform scaling and marketing goals. Following the merger with Merida Merger Corp, the main shareholder of Privateer Holdings will continue to own a 72% stake. Leafly is expected to be listed on the Nasdaq by the end of 2021 under the ticker LFLY.

We believe the Leafly placement will be accompanied by strong demand as the cannabis market grows and the expected easing of legislation in individual states. Leafly has an important role to play in connecting consumers and manufacturers as they cannot advertise on social media under US law. Among the main risks, it is worth highlighting the growing competition in the cannabis market, including among online trading platforms. Among the positive drivers for publicly traded companies in the industry could be the launch of the new Roundhill Cannabis ETF in November.

Better.com is a digital platform that facilitates real estate transactions. The company, founded in 2016, provides access to a digital platform that provides insurance services for mortgages, real estate, legal status and homeowners themselves. Long-term rentals are still in vogue, but many Americans dream of owning their own residential property. The housing boom fueled by the pandemic has begun to subside, but prices are up more than 23% over the year and are likely to continue to rise next year amid the Fed’s ultra-soft monetary policy and new Covid threats. People still need to buy homes, and this is where Better.com comes to the rescue, with a mission to make the journey to home ownership more comfortable through insurance solutions.

Better.com offers fairly standard products like mortgage insurance, but the platform uses computer algorithms and artificial intelligence to lower costs for potential home buyers. By keeping the entire process online, Better.com is able to offer clients mortgage approvals faster and with much lower fees compared to other mortgage brokers. Better.com claims that through its innovative platform, the company can cut the standard time it takes to close a home purchase in half from 42 days to 21 days.

Better.com launched Better Real Estate in 2018, and Better Settlement Services and Better Cover in 2019. Better Real Estate differs from traditional real estate business models in that it is a “partner, not a seller” whose mission is to find the right property for the client. Better Mortgage offers a variety of mortgages in both fixed and floating rate. Better Cover is a division of the company that helps buyers get a complete list of insurance solutions.

Better.com made it onto CNBC’s annual Disruptor 50 list, ranking 15th in 2020. The company’s services are currently available in 47 states and the company says it is working to expand its geographic presence in all US states. Better.com has received several outstanding awards since its inception, such as Nerdwallet’s Best Mortgage Refinancing Company in 2021, LinkedIn’s Best Startup in 2020, and One of Forbes’s Top Mortgage Lenders in 2021.

In seven years, Better.com has raised $ 905 million in ten investment rounds. During the Series D investment round, which took place in November 2020, the company raised $ 200 million. In April 2021, SoftBank acquired the company’s shares in the volume of $ 500 million. The purchase price of the shares was not disclosed, so it is not possible to evaluate the company. Later it became known that Better.com plans to go public through a SPAC deal. The subject of the merger will be Aurora Acquisitions Corp., which was listed in March this year with a valuation of $ 220 million under the ticker AURCU.

During Better.com’s IPO, SoftBank’s subsidiary SB Management Limited intends to invest $ 1.5 billion in the combined company, which will be channeled into equity (PIPE) Better.com. Following the completion of the merger, Better.com’s senior management is expected to remain in office. After the merger, the management of the company expects a valuation of Better.com at $ 7.7 billion. The management of Better.com predicts that by 2023 the company will have annual profit of $ 1 billion on revenues of $ 5.1 billion. The exact date of the IPO of Better.com has not yet been set. however, it is very likely that the deal could be closed as early as Q4 2021. According to HousingWire, if Better.com is valued at $ 7.7 billion after the merger, it will become the third largest non-bank mortgage company in the United States after Rocket Mortgage and United Wholesale Mortgage.

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Fabletics was founded in 2013. Through a partnership with actress Kate Hudson, who became the face of the company, Fabletics has become a popular brand. The company sells clothing, footwear and accessories for an active lifestyle. The company’s operating perimeter includes 64 retail stores in North America. Fabletics products can also be purchased online through the website or app. The company positions its product line as a cross between luxury yoga apparel brands like lululemon and mainstream apparel brands. Fabletics provides its customers with a unique membership service that allows them to participate in their daily outdoor apparel purchases, but customers are free to skip a month in which the assortment is unsuitable.

In 2017, parent company TechStyle contemplated selling Fabletics. At the time, the asset was valued at $ 1.5 billion. In addition to Fabletics, TechStyle owns brands such as JustFab and ShoeDazzle, so any parent company funding rounds are not entirely linked to Fabletics. TechStyle has raised at least $ 336 million in venture capital, according to Crunchbase. Given that Fabletics is largely considered the main brand of the company under Hudson’s patronage, it’s safe to assume that TechStyle has made a significant contribution to this brand.

In mid-July, rumors circulated in the market that Fabletics was attracting investment banks for a potential IPO. Currently, there is no information through what mechanism the company can go public, but we believe that Fabletics will choose the path through a traditional IPO rather than through SPAC. According to media reports, Fabletics would like to raise about $ 500 million through a public listing, which the company is likely to spend on investments in growth and business scaling.

The market is eagerly awaiting news of the upcoming deal, including the filing S-1 form, which will contain many financial and specific details about the upcoming IPO. As of the end of August, there was no information about the IPO in public sources, however, we learned that Fabletics plans to cooperate with major underwriters such as Morgan Stanley, Goldman Sachs, Barclays and Bank of America. We are also aware of the wishes of the management, who hope that the company will be able to achieve the $ 5 billion valuation.

At the end of August it became known that the world famous financial publication Forbes, founded in 1917, is preparing to go public. It is noteworthy that the company, which has existed for the second century, is owned by the founding family by only 5%. Hong Kong-based Integrated Whale Media Investments (IWMI) acquired a majority stake in Forbes in 2014. As a result of the transaction, Forbes was valued at $ 414 million. Currently, IWMI has increased its stake to 95% of the shares. Forbes is well known for its rankings of the richest people in the world. For example, the company annually prepares lists of business leaders in various categories, such as Forbes Billionaires, Forbes Global 500, Forbes 30 Under 30, and Forbes Celebrity 100.

Forbes’ main business is focused on selling more than 40 periodicals, among the most famous are ForbesWomen, Forbes Travel Guide, Forbes Asia and about fifteen regional publications. The company also makes money by providing investment and financial advisory services such as Fox and various radio stations. At the moment, according to Forbes, the company reaches an audience of 150 million people around the world through various media channels. In order to keep up with modern trends, Forbes is actively developing digital channels. The company says more than 80 million customers visit online platforms every month. Forbes is diversifying its business by expanding its coverage in other areas such as real estate or education. Forbes also hosts over 100 ForbesLive conferences a year.

The first news of Forbes going public appeared last year, but it turned out to be just rumors. In May of this year, it became known that the company was in talks with GSV Asset Management on a $ 650 million deal, but later it turned out that Forbes still intends to go public through the IPO mechanism. At the end of August, it became known that Forbes was preparing to go public through SPAC, a merger with Magnum Opus Acquisition Limited, which was listed in March this year at an estimate of $ 200 million under the ticker OPA.U. During the deal, Forbes is to receive a private investment in public equity (PIPE) in the amount of $ 400 million, and the indicative valuation of the new company after the merger will be $ 630 million.

The deal is likely to close at the end of Q4 or early Q1 2022. Following the completion of the merger, Forbes’ new ticker will be FRBS. We are positive about the impact of the deal on the company’s business profile, since after the merger, Forbes will raise capital to further develop its business under the iconic brand. The implementation of a differentiated content generation strategy and the development of a digital media space will help the company scale its business on the global stage.

FiscalNote is an American company developing an information and analytical platform for communication between business and government. The company provides solutions for tracking and forecasting political trends, informing about recent changes in legislation, assessing the likelihood of getting a lawsuit and monitoring active litigation processes. Moreover, on the platform, clients can prepare analytics for all the company’s invoices, schedule payments and assess the risks of violation of one or another obligation. For analytical functions, the platform uses artificial intelligence technologies.

FiscalNote was founded in 2013 in Washington DC. The company now also operates subsidiaries in Korea, India and Belgium. The company provides customers with software on a subscription basis (SaaS), which generates the main revenue. FiscalNote’s client portfolio consists of approximately 5,000 companies. Among the most famous are AstraZeneca, Lyft, Coinbase, NewBalance, Salesforce. During the period of legislative and political uncertainty during the pandemic, the demand for FiscalNote services grew by an impressive 1,894%, the average cost of a client contract increased by 18%, and the share of customers who chose FiscalNote for the long term increased from 48% to 65%.

Over 13 investment rounds, FiscalNote raised $ 258 million. A total of 57 investors invested in the company, among the most famous are Arrowroot Capital Managemen, New Enterprise Ventures (invested in Uber, Cloudfalre, Snap), Plug and Play (PayPal, Google, DropBox) and CBC Group. Now, the company’s valuation is $ 1.4 billion. According to management plans, at the time of the IPO, the company can be valued at $ 3-4 billion.

As of the end of 2019, the global LegalTech and RegTech market was valued at $ 23 billion. According to analytical estimates, by 2025 the market volume could almost double, reaching $ 41 billion, which corresponds to an average annual growth rate (CAGR) of 10%. The main competitive advantage of FiscalNote is a unique platform that integrates modern technologies for solving legal and tax problems. Moreover, we welcome the company’s desire to enter new markets, including developing ones, where amendments to legislation are made much more often compared to developed countries.

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Udemy is a global online educational platform. Around the world, the company provides educational services to students, corporate clients and even government agencies in order to improve their skills and knowledge to achieve their goals. Global market leaders such as Adidas, Toyota, PayPal, Lyft, Pinterest and others are already using the Udemy platform to train employees or post their own exclusive content.

Udemy is an educational marketplace that hosts courses posted by other users. Now on the platform of the company there are already more than 150 thousand different training programs in more than 65 languages ​​of the world. Udemy has over 30 million customers from over 192 countries around the world. Absolutely any expert in any scientific and expert field can post their course or webinar on the platform after passing the verification process.

Taking into account the fact that not a single product posted on the platform belongs to Udemy, and the prices for materials are set by the experts themselves, the main income of the company consists in commissions from the sale of courses through the official website and other resources. An additional source of income is advertising and promotion of course owners within the platform.

Udemy’s business model can be compared to Alibaba or Amazon. Experts, on average, earn 97% from the sale of their courses if they enjoy a good reputation and are loyal to the site, as well as attract an audience on their own. Udemy takes 50% of the sales revenue if the site itself was promoting the materials. If students are attracted by a third-party company, Udemy receives 25% of the profits, exactly like the owner of the course, and the remaining 50% is distributed in favor of the attracting party.

Udemy has raised over $ 300 million in 15 investment rounds, the last of which took place on December 16, 2020. At that moment, the company was valued at $ 3.3 billion. Udemy’s main investors are the largest investment funds such as QD Ventures, Learn Capital, Tencent, Winter Capital and others. Udemy’s closest competitor is Coursera, an education platform that went public in 2021. At the moment, the company’s capitalization is more than $ 5.3 billion with annual revenue of $ 300 million. Udemy management predicts Udemy’s revenue growth up to $ 400 million by the end of this year. Thus, according to the latest investment round, Udemy was valued at a significant discount to Coursera’s current capitalization.

The main risk that Udemy may face is the growing level of competition in digital education. According to experts, the online education market could grow to $ 33.2 billion by 2025, up from $ 8.4 billion in 2020. The COVID-19 pandemic has become a significant driver of the transformation of the education sector. The industry has received significant support from the growing demand for online services. The most innovative platforms have benefited most from the structural transformation of the education sector.

The high growth potential of the online education market, partnerships with major international companies, as well as a transparent and understandable business model of Udemy, coupled with a growing business, set positive expectations for the company’s entry into the public market.

Impossible Foods is an American manufacturer of plant-based artificial meat. The company was established in 2011. In 2016, the company introduced its first development, an Impossible Burger-branded artificial beef burger cutlet, which until 2019 was only supplied to restaurants. The product has received high recognition and great popularity due to the similarity of artificial minced meat cutlets with a real analogue, both in taste and physical parameters. The secret to the success of this artificial beef cutlet is its unique food technology. Impossible Foods has managed to develop a special protein (blood heme) that is similar in texture and taste to an animal. This protein was obtained from the roots of soy plants. The main problem in replacing animal heme with vegetable heme is the low content of this molecule in soy. Impossible Foods solved this problem with another technology, namely by crossing plant heme with a yeast of the species Pichia pastoris, which allowed to multiply the production of plant protein. In 2018, the FDA declared heme to be safe to eat.

Until 2019, Impossible Foods only sold its produce to restaurants. For example, the global fast food chain Burger King has launched the Impossible Whopper, Burger King’s flagship burger made from Impossible Foods. The main product of the company – Impossible Burger – is already sold in 9 thousand restaurants and is a hit in many of them. Since 2019, the company has increased its revenue by 50% due to the expansion of supplies to supermarkets and the improvement of the product line. Over the past year, Impossible began selling its products at 1,700 Kroger-affiliated stores, 2,000 Walmart stores and 1,200 Publix stores throughout the United States. In May 2020, the company began active sales of its products through digital channels.

In May 2021, Impossible Foods began shipping its produce to school canteens. This is definitely great news, as in order to enter into contracts with educational institutions, the company’s products had to pass examination and quality control by the Food and Nutrition Service of the United States Department of Agriculture. This is likely the final step the company is taking to expand its presence and generate interest in plant-based meat from its own production. By delivering its products to schools, Impossible Foods builds loyalty among a young audience that is concerned about environmental pollution. Impossible Foods says its primary goal is to attract meat lovers, rather than vegetarianism, to its products to help reduce the environmental impact of beef and other meats.

According to various estimates, the global meat market can be estimated at $ 1.4 billion. Currently, the alternative meat industry occupies only 1% and is estimated at $ 14 million. According to experts, in 2029 the share of artificial meat in the total meat market may exceed 10% even without considering growth of the industry as a whole. Impossible Foods’ main competitor is Beyond Meat (BYND), which went public in 2019. On the first day of trading, the company’s shares more than doubled. The company’s value at that time was estimated at $ 3.4 billion. Now BYND’s capitalization is $ 7.8 billion. Since the IPO, BYND shares have grown by 400%.

Impossible Foods raised $ 1.6 billion in 16 investment rounds. The last round took place in August 2020, and at that time the company was valued at $ 4.1 billion. Thus, the capitalization of Impossible Foods was almost 2 times lower than that of Beyond Meat. Among the key investors in Impossible Foods, one can distinguish both world-famous venture funds such as Google Ventures, Horizon Ventures or UBS, as well as popular personalities – Katy Perry, Jaden Smith, Jay-Z and Bill Gates have already invested in the company.

The main risk of investing in a company is competition with traditional meat producers. The largest global players will make every effort to prevent the expansion of the market share of alternative meat, including through lobbying mechanisms. However, the uniqueness of Impossible Foods’ technologies, combined with the global environmental agenda, will help the company find its market niche and steadily expand it through massive consumer acceptance.

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Rubrik is an American privately held company offering cloud-based solutions for protecting, storing, exchanging and analyzing data. The platform, developed by the company, brings together the solution to all the major data management problems faced by corporate clients. Typically, these problems include leakage, partial or complete loss of information, and lack of optimization and integration.

Rubrik was founded in 2014. During its operational activities, the company was able to raise more than $ 550 million in 6 investment rounds. In the last round, which took place in January 2019, the company raised $ 261 million and was valued at $ 3.36 billion. The main investors of the company are Bain Capital Ventures (one of the main investors of LinkedIn), Greylock Partners (invested in Facebook, Instagram) and IVP (invested on Twitter, Uber, Netflix). The company employs over 1.6 thousand people in more than 18 countries around the world.

In December 2020, the company expanded its unstructured data management capabilities with the Igneous IP solution and launched the Andes 5.3 application, which allows corporate customers to modernize their IT infrastructure, automate operational processes, and reduce the risks of moving to the cloud. At the end of 2020, Rubrik entered the TOP 10 companies in the Forbes Cloud 100 list. Rubrik was also recognized as the “client’s choice for backup and recovery solutions for data centers” according to the Gartner Peer Insights methodology in 2021.

Rubrik reported that its fiscal fourth quarter, which ended March 31, 2021, was the best in the company’s history in terms of financial results. The company currently serves 3,200 customers around the world, with more than 200 customers using the company’s package of services, which costs more than $ 1 million. According to a press release, Rubrik discusses the largest Fortune 100 companies, for example, three of four companies from the telecommunications sector, two of five companies from the defense industry, two companies from three in the retail sector, one of three companies from the healthcare sector and four companies from six from the insurance sector. By the end of 2020, the company was able to switch to an annual subscription of almost 70% of its customers, which is a positive factor for the financial profile, allowing it to generate more predictable cash flows.

Cloud solutions are increasingly penetrating everyday life. The global market for cloud technologies was estimated at $ 371 billion as of 2020, but by 2025 its volume, according to analysts’ forecasts, may exceed $ 800 billion. According to IDC estimates, total corporate spending in the data management market is $ 48 billion. The rapidly growing market of cloud solutions is attracting the attention of many players, therefore, there is a high level of competition in this area, which, perhaps, is the main risk for the company. However, Rubrik has a unique and innovative platform that allows you to manage all your data stores from one place. The platform also allows you to optimize data storage processes by removing duplicate data, and to identify information leaks and potential cyber threats using artificial intelligence algorithms. Rubrik uses a “self-learning system” that, according to management, can search for data in a variety of computing environments and make it available through a central hub. Rubrik’s closest competitor is Cohesity, which is also planning an IPO.

Rubrik maintains a strong market position in the cloud solutions sector. We believe that geographic diversification of operating activities will strengthen the company’s market position. According to the press release, the funds raised in the last round were directed to finance geographic expansion. Rubrik actively invests in new product development, including cybersecurity products. Among the new solutions of companies may be new blockbusters, which will significantly improve the financial profile. In addition, it is worth noting the company’s partnership with the largest IT companies from the United States, such as Microsoft, Cisco, AWS, SAP, Nutanix, Oracle, VMware, Google Cloud, Pure Storage and others. Rubrik software will run in the cloud (including Oracle Cloud, Office 365, Azure and AWS), virtual environments (using Hyper-V, Nutanix, and VMware) and physical systems (using Windows, SQL Server, NAS , SAP HANA and Epic Cache). Joint projects can help a company grow its customer base and increase cash flows through cross-selling. The company held its last investment round in January 2019. The share price was $ 23.55, which corresponds to a capitalization of $ 3.36 billion.

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Eat Just is an American privately owned company that manufactures alternative plant-based foods. The company was founded in California in 2011. The main and most famous product is the artificial eggs Just Egg, which are made from mung bean, a legume native to Asia. Just Egg is sold in two formats: liquid as beaten eggs in 350 ml bottles, and frozen Just Egg Folded, which look like sliced ​​omelette. Eat Just is also involved in the production of artificial meat. Based on the synthesis of animal cells, the company produces alternative chicken meat and products from it, mainly semi-finished products. The company also makes protein-based sauces such as mayonnaise or tartar. The uniqueness of Eat Just eggs is that they do not contain cholesterol, unlike eggs of animal origin, with a practically comparable protein content. The main target group of Eat Just are vegans, and according to VeganBits, there are now about 75 million of them in the world.

Eat Just currently sells its products through more than 20 thousand points of sale around the world. Just Egg and Just Egg Folded are sold in many American supermarket chains such as Walmart, Whole Foods, Safeway, Kroger and others. According to research firm SPINS, the US market for herbal substitutes for animal products grew by an average of 11% last year alone. $ 5 billion. However, the growth figures for the vegetable egg sector are more impressive, the volume of which grew by 192% in 2019 and reached $ 30 million. Outside the United States, products are presented in the Hong Kong market and in China. Asia is the most promising market for the company. According to Research and Market analysis, Asia consumes 64% of the world’s eggs. In 2021, the company plans to enter the European market. According to research by ING, the sector of plant-based alternatives to animal products is growing in Europe by 10% annually and by 2025 the market size will reach $ 7.5 billion.

Eat Just alternative meat products are sold through a partner network with foodpanda, one of the leaders in the Asian food delivery market. In December 2020, the company received permission to sell alternative chicken meat in Singapore. This is the first time in the world that this country allows the sale of foreign goods of this type on its territory. Entering the Singaporean market will allow Eat Just to increase its market share as well as gain consumer confidence in neighboring countries. In 2022, Eat Just plans to begin construction on its first Asian plant in Singapore.

In the market for alternative eggs, Eat Just is the undisputed leader. The only competitor is the Israeli manufacturer Zero Egg, which is significantly inferior in terms of business scale and business recognition. In the segment of vegetable meat, competition is more significant. Companies like Impossible Foods, the publicly traded Beyond Meat and the Bill Gates-backed Memphis Meat have improved technology and are more competitive in the plant-based meat market. Nevertheless, the market for alternative meat has good prospects for long-term growth and Eat Just has every chance of conquering its niche. Barclays analysts estimate the current market for vegetable meat at $ 14 billion, but by 2029 its scale may increase to $ 140 billion.

Eat Just’s revenue has yet to be disclosed to the market, but CEO and co-founder Josh Tetrick said the company had already sold 60 million plant eggs and could start earning money this year. Eat Just raised $ 440 million in 16 investment rounds. The last round took place in June 2021. The most famous investors in the company are Vulcan Capital, Qatar Investment Authority, HH VC Investments. At the moment, the company’s capitalization is $ 1.3 – $ 2 billion. However, Josh Tetrick is not satisfied with such levels. The head noted that the company plans to enter the IPO with an estimate of at least $ 3 billion.

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