An undisclosed investor in Eat Just has suggested that the company should initiate an IPO valued at $3 billion.  Eat Just recently raised successive tranches of $200 million from the Qatar Investment Authority and $170 million from U.S. venture capital companies in June.

Based on past history, it is noteworthy that a flurry of highly complementary articles that are light on substance appear in vegan and food enthusiast magazines and on websites before announcement of a new round of funding. Articles include optimistic projections from founder and CEO Josh Tetrick who has indicated that his company will go public “at some time in the future”. The enterprise is now based on a mung-bean egg substitute and cell cultured meat.  Eat Just has been highly secretive as to manufacturing facilities for a meat substitute, in comparison with established cell-cultured meat companies in the EU and Israel. These contenders have published images of their pilot plants and production facilities and employ reputable scientists with appropriate credentials as team members and consultants.

An IPO would require extensive release of company documentation including profitability and would subject Tetrick and his future strategy to scrutiny.  Functioning as a public-quoted company, Eat Just would be required to disclose quarterly results and would be subject to the direction of a Board representing shareholders, a prospect that Tetrick has previously resisted.