In November 2020, Beyond Meat announced sales had only grown by 2% year-on-year compared to an expected increase of 40% due to the impact of COVID-19 on foodservice sales. As of June 2021, Beyond Meat had a market cap of $9.44 billion. On the day of its IPO, the company was valued at $3.8 billion and was the best-performing public offering by a major U.S. It is the first plant-based meat analogue company to go public. In May 2019, Beyond Meat went public and trades on the United States Nasdaq exchange under the symbol BYND. Beyond Meat is also backed by celebrity and athlete investors such as Leonardo DiCaprio, Jessica Chastain, Snoop Dogg, Liza Koshy, Chris Paul, Kyrie Irving, DeAndre Hopkins and others. īy 2018, Beyond Meat had raised US$72 million in venture financing. Tyson Foods purchased a 5% stake in Beyond Meat in October 2016, but sold its 6.5% stake and exited the investment in April 2019, ahead of the company's initial public offering. Over the years 2013 to 2016, the company received venture funding from GreatPoint Ventures, Kleiner Perkins, Obvious Corporation, Bill Gates, Biz Stone, the Humane Society and Tyson Foods. The People for the Ethical Treatment of Animals (PETA) named Beyond Meat as its Company of the Year for 2013. In 2014, Beyond Meat developed its first plant-based beef product, Beyond Beef Crumbles, and has since expanded into plant-based pork. Upon licensing Hsieh and Huff's technology, Beyond Meat launched its first product, Beyond Chicken Strips (originally called "Chicken-Free Strips"), at Whole Foods in 2012 and expanded nationally in 2013.
Brown initially contacted two University of Missouri professors, Fu-hung Hsieh and Harold Huff, who had been developing their meatless protein for years. History FoundingĮthan Brown founded the company in 2009 with the stated mission of combating climate change.
The company went public in 2019, becoming the first plant-based meat analogue company to go public. The company's initial products were launched in the United States in 2012. is a Los Angeles–based producer of plant-based meat substitutes founded in 2009 by Ethan Brown.
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