Beyond Meat is being valued at more than 40 times revenue, while most big food companies have price-to-sales multiples of less than two.
Located in El Segundo, California, near Los Angeles, and with backing from Bay Area tech investors like Kleiner Perkins and Obvious Ventures, co-founded byEv Williams, Beyond Meat is catering much more to the high-growth tech investor than the money manager focused on traditional food brands.
Beyond Meat, which sells packaged food in grocery stores and also has burgers and other items at 12,000 restaurants including A&W Canada, TGI Fridays and Carl's Jr., priced its IPO at $25, the high end of its range, before jumping right as it started trading.
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