![]() ![]() Some are skeptical of the role methane-spewing cows contribute to climate change or the value of eating plant-based burgers to combat it. However, Reuters reported Tuesday that Impossible, citing supply constraints, has abandoned pursuit of a McDonald’s deal, which could trump all others.Ī smorgasbord of critics is another headache. While Impossible’s burger is available at fewer outlets - 17,000-plus restaurants and a handful of grocery chains - the company has so far made the highest-profile fast-food deal with Burger King, which introduced the Impossible Whopper nationwide in August. Impossible Foods, a Redwood City, Calif., start-up, is proving to be its toughest rival. Even Beyond acknowledges it faces “intense competition” from a long list of rivals, such as big agribusinesses and natural food makers wanting to cash in on the craze. Stone returned to Kleiner Perkins with a ringing endorsement and a question: Can I get in on this too?īut the stock fell under $80 in November and didn’t make real gains until this week, the victim of Wall Street’s fickle appetite and a swarm of short sellers convinced its growth prospects have been hyped. “This was a guy who from the beginning was saying, ‘We are going to be in McDonald’s.’” So this was no novelty food thing that was going to go into the freezer section next to the silly products,” Stone says. “It was immediately apparent that he was massively ambitious. Instead, he met a former fuel-cell industry executive with an MBA and a sweeping business plan. “My first thought was, ‘Oh boy, some kind of hippie guy who is going to preach about how mean eating animals is,’” Stone recalls thinking before the 2011 meeting. ![]() It was led by an entrepreneur he’d never heard of: Ethan Brown. So he was wary when asked by Kleiner Perkins, the Silicon Valley venture capital firm and a backer of his social media platform, to help vet an investment in an unusual meatless burger start-up. Twitter co-founder Biz Stone likes to think of himself as a “not preachy vegetarian.” He doesn’t eat meat but tends to keep his views to himself. ![]()
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