Beyond Meat files for IPO

Beyond Meat, a company that makes plant-based meat substitutes, has filed for an initial public offering.

The company submitted a filing Friday with the Securities and Exchange Commission for an offering of $100 million, although that offering size is likely to change.

Ethan Brown founded the company in 2009 and has worked closely with researchers at the University of Missouri College of Agriculture, Food and Natural Resources to develop Beyond Meat’s products.

The company is based in El Segundo, California, but it maintains two production facilities in Columbia. Earlier this year, Beyond Meat announced plans to expand those facilities and create up to 250 jobs in the area in 2018.

Beyond Meat makes chicken strips made from pea and soy protein, and burgers and beef crumble from pea protein.

The company has attracted a number of high-profile investors, including actor Leonardo DiCaprio, Microsoft founder Bill Gates and Twitter co-founders Biz Stone and Evan Williams.

The company posted a net loss of $30.4 million on net revenue of $32.6 million in 2017, Bloomberg reports, and net loss of $25.1 million on net revenue of $16.2 million in 2016.


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