Artificial meat company invested by Bill Gates: Beyond Meat (BYND)

Beyond Meat Inc. (NASDAQ: BYND) was founded in 2009 and is headquartered in El Segundo, California, with 383 full-time employees (3/31/2019). It is an artificial meat (artificial vegetarian meat) ) In addition to vegetarian burgers, Beyond Meat’s products also include chicken and sausage substitutes. If successfully listed, Beyond Meat will become the first listed company in the “artificial meat” field.

Beyond Meat Logo

Beyond Meat (BYND):

Beyond Meat is a Los Angeles manufacturer of 100% plant-based meat substitutes. Since 2013, the company’s products have been available at Whole Foods supermarkets across the United States. The company was founded in 2009, is the first president Ethan Brown, whose investors include Kleiner Perkins, the venture capital firm Obvious Corporation, Microsoft (Microsoft Corp.) founder Bill Gates (Bill Gates), Tyson Foods Company (Tyson Foods), Biz Stone (Biz Stone) and the Humane Society of the United States.

Beyond Meat’s largest shareholder is venture capital firm Kleiner Perkins Caufield & Byers LLC, which holds 16% of Beyond Meat, Obvious Ventures holds 10%, and American food giant Tyson holds 5%. Beyond Meat’s individual investors are large and large, including Microsoft founder Bill Gates, famous movie star Leonardo DiCaprio and former McDonald’s CEO Don Thompson.

President Ethan Brown founded the “Beyond Meat” company (formerly “Savage River”) in 2009, mainly dedicated to the production of imitation meat foods with pure plant ingredients, in order to eliminate the production process of the meat industry. Negative impact. The inspiration for Brown to establish “Beyond Meat” came from what he called “the country of chickens”, which was his own farm where he used to vacation on weekends when he was a child, located in rural Maryland near the border of Pennsylvania.

At first, the company mainly focused on the research of frozen chicken, and then gradually turned to the field of artificial meat research. The company’s filing with the SEC shows that Beyond Meat’s flagship product, the “Beyond Burger,” which is labeled “looks, cooks, and tastes the same as traditional beef” has gradually gained consumer recognition. Beyond Meat’s products are currently sold in mainstream U.S. supermarkets such as Kroger and Whole Foods , and have been included in the menus of many restaurants.

From the very beginning, Brown approached two professors at the University of Missouri, Xie Fuhong and Harold Huff, who have been studying the extraction of plant protein for many years. The two professors spent nearly ten years in the university laboratory, testing the extraction of mixed soybean and bean protein under different temperatures and pressures, hoping to produce vegetable protein that is most similar to real chicken in appearance or texture. Later, Xie Fuhong and Professor Harold Huff took another five years to make the formula for the first product of “Beyond Meat”. In 2012, the “Beyond Meat Company” launched in limited areas. Chicken Wicker without Chicken”.

Brown once said that the company’s long-term goal is to create a product that can be used to meet the growing global meat demand, especially markets like India and China.

Investors of Beyond Meat (BYND):

Crunchbase data shows that Beyond Meat has raised a total of US$122 million from investors. Investors include Obvious Ventures, Kleiner Perkins, Cleveland Avenue, DNS Capital, Tyson Ventures, Bill Gates, S2G Ventures, and many other companies .

Obvious Corporation is a venture capital company founded by Twitter’s co-founders Evan Williams, Biz Stone, and Jason Goldman. The company began to invest funds to sponsor Beyond Meat in June 2013.

Bill Gates also started investing in their company in 2013 after tasting samples of Beyond Meat’s products. Bill Gates said: “I can’t tell the difference between chicken-free products that go beyond meat and real chicken.”

In 2013, the Silicon Valley venture capital company Kaipeng Huaying also became one of the gold owners of Beyond Meat. This was the first food-related investment of Kaipeng Huaying. The American Humanitarian Association is also among investors who surpass meat.

Leonardo DiCaprio (Little Plum) also invested in the company.

In 2016, Tyson Foods purchased more than 5% of the shares of meat.

Beyond Meat (BYND) product:

Beyond Meat Company develops and produces a series of foods based on plant protein. These vegetarian meats are made up of soybean and pea protein isolate, yeast and other ingredients. In 2014, a series of products such as “Beyond Chicken” and “Beyond Beef” were launched. In 2015, a vegan vegan hamburger steak without soy ingredients was launched, named “The Beast”. In addition to the retail packaging of products beyond meat, they also supply ingredients from the restaurant business to make in-store meals.

1.Beyond chicken

“Beyond Meat”‘s plant-based chicken-free product series is named “Beyond Chicken”. It is made by mixing refined soybeans and bean protein, as well as fiber and other raw ingredients. It focuses on healthy chicken substitutes as a marketing appeal . They mix all the ingredients and pour them into a food extruder for cooking. Because the extruder is specially designed, the product can produce a chicken-like texture through steam, extrusion and cold water treatment. After the extruder is processed, the product is cut into shapes, seasoning is added, and then grilled before packaging is completed. Each batch of vegan chicken fillet takes about 90 minutes to complete. This chicken-like product has three flavors to choose from: light flavor, grilled flavor, and vegetarian chicken fillet with American Southwest sauce.

2. Beyond beef

“Beyond Meat” imitation minced beef series “Beef Beef” has two flavors: original Beefy and spicy Feisty. The raw materials are bean protein, rapeseed oil, and various flavoring spices. The mixed raw materials of soy and gluten-free bowl bean protein are paste-like before being heated and processed by an extruder. Each serving of vegan ground beef is 55 grams, and its protein content is the same as that of traditional ground beef.

3. Beast

Beast Vegan Burger Steak

Beyond Meat announced in 2014 that it had begun to develop and test a new product named “The Beast”. They invited players from the Major League Baseball team, the New York Mets, to a taste test at a pre-match event. They tasted this vegan hamburger steak made with plant protein.

The “Beast” vegan hamburger steak was officially launched in February 2015 and can be purchased at Whole Foods supermarkets across the United States. The ingredients of the hamburger steak are: soy protein powder, water, sunflower oil, and blended cooking oil (rapeseed oil, linseed oil, palm oil, sunflower oil, DHA seaweed oil). The process puts all the raw materials into a twin-screw extruder for mixing, cooking and extrusion. After the extruder is processed, the product is shaped into a hamburger steak, and finally packaged as retail food.

The hamburger steak is vegan vegan without soy ingredients; the protein content is 23 grams, contains antioxidant nutrients, iron, calcium, vitamin B6, B12 and D, potassium, DHA and ALA Omega-3 fatty acids.

4. Beyond burger meat

In May 2016, “Beyond Meat” launched the first vegan burger meat based on plant protein, which was placed in the meat section of retail stores and displayed alongside general beef, chicken, and pork. This product was first put on the shelves at Whole Foods Supermarket on Pearl Street in Pod, Colorado. “Beyond Burger Meat” was robbed in just one hour.

A serving of “Beyond Burger Meat” contains 20 grams of protein, and does not contain soy, gluten, genetically modified ingredients, and cholesterol-free. Its saturated fat content is the traditional beef hamburger steak with a ratio of lean and fat to 80:20. Half of it.

The market situation of Beyond Meat (BYND):

At present, there are two general ideas for artificial meat: one is to extract protein from beans, wheat and other plants to simulate the taste of meat and process it into “vegetarian meat” similar to the taste of meat fiber; the other is to extract stem cells from animals , Add oxygen, sugar and other nutrients to the container for cultivation. Beyond Meat belongs to the former. After using new technologies and methods, Beyond Meat’s artificial meat tastes similar to real meat. The company said that since 2016, its artificial meat burgers have sold 25 million copies.

Most artificial meats are mainly “health” and “environmental protection”, and Beyond Meat is no exception. Its official website emphasizes that artificial meat mainly uses plant proteins such as soybeans and peas. Compared with ordinary beef burgers, their artificial meat burgers can save 99% of water, 93% of land, and 90% of emissions during the production process. 46% of energy.

According to data provided by research institutions, the global population is expected to grow to 9 billion in 2050. The growth of the middle-class consumer group and the increase in protein demand and consumption will increase the burden on the environment. Meat and dairy products provide humans with 18% of calories and 37% of protein, but animal husbandry occupies 83% of cultivated land and emits 60% of greenhouse gases.

In recent years, Silicon Valley has set off a wave of food technology entrepreneurship and investment. According to agency estimates, the food technology industry has a bright future, and the future market size is expected to reach the level of 100 billion US dollars. In fact, since 2014, many investment circles have begun to step into the field of artificial meat. That year, Hong Kong tycoon Li Ka-shing, through his investment company Horizons Ventures, injected US$10 million into the artificial meat startup Modern Meadow in New York, USA, for the research and development of artificial meat. In addition to investing in Beyond Meat, Bill Gates also invested in Impossible Burger, another startup company that also makes artificial meat, and its total financing reached 387 million US dollars.

At the same time, Israel also leads the world in the development of artificial meat technology. Its three well-known laboratory meat-making companies are SuperMeat, Future Meat Technologies (which is trying to commercialize cell-made meat), and Meat the Future.

On August 23, 2017, Memphis Meats, a US artificial meat startup, announced that it has received US$17 million in Series A financing. So far, Memphis Meats has received a total of $22 million in financing. This round of financing was led by the well-known American venture capital DFJ Fund (DFJ). Participants include not only Bill Gates, who has always been interested in “artificial meat”, but also American food companies that supply 22% of American meat. Cargill . Memphis Meats is headquartered in San Francisco, USA and was founded in 2015 by cardiologist Uma Valeti and stem cell biologist Nicholas Genovese. Memphis Meats is no exception in the craze of “growing meat” in the laboratory in recent years. The goal is to sell artificially cultivated meatballs, hot dogs and sausages on supermarket shelves in the next few years.

Thanks to this IPO, Beyond Meat became the first artificial meat listed company to receive venture capital, but there are other startups waiting to follow suit. Impossible Burger is another well-funded vegetarian burger startup. In addition to these two companies, Just , the dominant player in the vegetarian condiment market, is still seeking to go public, and the company is considering adding laboratory-grown meat to its product roadmap.

These companies can get investment because of the huge potential of this market. In 2017 alone, U.S. consumers spent US$270 billion on meat. According to data quoted by Beyond Meat from Fitch Solutions Macro Research, global consumer spending on meat has reached 1.4 trillion US dollars.

At the same time, the consumption of plant-based meat substitutes in the United States is steadily increasing. According to a study commissioned by Nielsen by the Plant Based Food Association, in the first half of 2018, Americans purchased $670 million worth of meat substitutes.

Prospectus of Beyond Meat (BYND):

The company is best known for its “Beyond Burger”, which “looks, cooks and tastes like traditional ground beef.” Since 2016, Beyond Meat has sold 25 million copies of “Beyond Burgers”. The company has entered more than 32,000 retail channels, including supermarkets, restaurants and other stores, such as the famous Kroger , Target , Whole Foods, and TGI Friday’s [TGI Friday’s, Sentinel Capital Partners and Three Craftsman Capital Partners ( TriArtisan Capital Partners) was acquired from Carlson Group in May 2014 ] etc.

Beyond Meat began selling various artificial meat products in 2016. The revenue that year was 16.2 million U.S. dollars. Although revenue grew steadily, reaching 87.9 million U.S. dollars in 2018, the company is still at a loss. In 2018, Beyond Meat had an operating loss of US$29.9 million, but it was lower than the US$30.4 million in the same period last year.

Beyond Meat (BYND) history:

  • In 2009, Ethan Brown founded “Beyond Meat” as a possible way to solve the problems that individuals perceive as the meat industry.
  • In 2012, the company launched “Chicken Wicker Strips Without Chicken”. Soon after, the company began to expand its production equipment, and it is expected to add items such as “meatless ground beef” and “meatless ground pork” to the product catalog.
  • In April 2013, Beyond Meat began selling its “no chicken” product series in Whole Foods supermarkets across the United States .
  • In May 2013, the “Tropical Smoothie Café” chain (Tropical Smoothie Café), which started in Atlanta, began to introduce products that go beyond meat. The menu contains chicken dishes and introduced “no chicken” vegan options. Consumer choice.
  • In June 2013, Obvious Corporation began to invest funds to sponsor the “Beyond Meat” company, the former is Twitter ’s co-founders Evan Williams, Biz Stone, and Jason Gao The limelight company established with Mann.
  • In 2013, Bill Gates also started to invest in Beyond Meat after tasting samples of products from Beyond Meat. Bill Gates said: “I can’t tell the difference between chicken-free products that go beyond meat and real chicken.”
  • In 2013, PETA named the “Beyond Meat” company as the 2013 Model Company of the Year.
  • In 2013, the Silicon Valley venture capital company Kaipeng Huaying also became one of the funders of “Beyond Meat”. This was the first food-related investment of Kaipeng Huaying.
  • In 2014, “Fast Company” magazine named “Beyond Meat” as one of the most innovative companies.
  • In 2016,  Tyson Foods  bought a 5% stake in “Beyond Meat”.

Beyond Meat (BYND) investment:

Beyond Meat Inc. (NASDAQ: BYND) submitted its IPO prospectus on 11/16/2018 and listed on NASDAQ on 5/2/2019. The planned issue price is $19.00-$21.00, and the actual issue price is $25. , Issued 8.8 million shares, raised 220 million US dollars, stock code: BYND, Goldman Sachs, JPMorgan Chase and Credit Suisse Group will serve as the joint lead underwriters of this IPO.

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