Category: Burger King

May 17, 2019 Off

Unpacking Away’s $1.4B valuation, the startup studio model and CrowdStrike’s S-1

By Jill T Frey

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week was something a bit special for the team, albeit in a sad way. It marked the last episode in which we’d all be together in the current TechCrunch office. It’s a place in which we’ve spent so much time, so we were all a bit nostalgic. (TC is moving offices, nothing else is changing!)

Anyway, there was news to discuss!

After Alex went through what he called a “mid-quarter check-in” we got into the meat of things, kicking off with Kate’s recent story on Madrona’s new startup studio. The $11 million that will be spent on spinning up ideas and spinning out companies forms a model that could be exported to … Read the rest

May 13, 2019 Off

Crowned by Burger King, meat replacement company Impossible Foods raises $300 million

By Jill T Frey

After being crowned by Burger King as the first meat replacement patty to roll out nationally with one of the largest fast food chains, Impossible Foods has raised $300 million in capital.

The financing brings the company’s total equity raise to $750 million — and provides a sizable pool of funds to draw from as it continues to compete with its newly publicly traded rival, Beyond Meat.

Both companies are looking to provide plant-based replacements for animal proteins, but while Beyond Meat has focused on consumers in the grocery store, Impossible Foods has focused on restaurants and business-to-business sales.

That focus paid off earlier this year with the announcement of the Impossible Whopper, and its subsequent nationwide rollout only a month later.

Read the rest
May 2, 2019 Off

Beyond Meat rockets in early trading on Nasdaq, reaching a valuation of over $3 billion

By Jill T Frey

Meat alternatives are getting a big public market debut with the Beyond Meat public offering, as shares of the company rocketed above their initial list price.

The company’s shares surged up 135% in their market opener, valuing the company as high as $3.52 billion. Volatility was so high on the company’s stock that the Nasdaq had to pause trading of “BYND” shares.

The company’s first trade came in at $46 at 12:18 p.m. Eastern, according to a report in MarketWatch. That’s a whopping 76% above the initial price. Gains extended throughout the morning reaching an intraday high of $63.43 (or around 154% above its initial high) and the stock is now trading at around $55 per share.

The company priced its public offering at $25 per share last night — at the upper end of an already increased share price (likely in response to shareholder demand).

In all the … Read the rest

April 29, 2019 Off

Burger King will roll out the Impossible Burger nationwide by the end of the year

By Jill T Frey

The Impossible Whopper’s debut at Burger King has gone from a not-April-Fool’s-joke to a nationwide rollout by year-end.

Originally launched on April 1st at 58 restaurants in St. Louis, the Impossible Burger will be on Burger King menus in additional markets soon and will be available at every Burger King by the end of the year, according to multiple reports.

For Burger King, the rollout of the Impossible Burger enabled the company to snag new customers while not eating into its core business of selling Whoppers.

It’s about optionality, and the ability to “give somebody who wants to eat a burger every day, but doesn’t necessarily want to eat beef everyday, permission to come into the restaurants more frequently,” Chris Finazzo, president of Burger King North America, told CNN Business when Read the rest