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The Journal.

Beyond Meat Loses Its Sizzle

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 30 November 2022

⏱️ 17 minutes

🧾️ Download transcript

Summary

Beyond Meat, the maker of plant-based meat alternatives, has been a darling of the food startup world. In 2019, it had one of the most successful initial public offerings by a major company in more than two decades. But now sales are down, its stock is slumping and its workforce is shrinking, WSJ's Jesse Newman unpacks Beyond's problems. Further Reading: -Beyond Meat’s Very Real Problems: Slumping Sausages, Mounting Losses -Beyond Meat Reports Weak Sales and Mounting Losses Further Listening: -Oatly Pioneered Oat Milk. Now It’s Struggling to Keep Up. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

At the supermarket, you've probably seen Beyond Meat products, maybe in the refrigerated

0:11.0

food section.

0:12.6

But Beyond Meat is not meat.

0:15.0

It's a plant-based alternative.

0:17.6

And the company has been on a meteoric rise, not just with consumers, but also on the stock

0:24.0

market.

0:25.0

Its initial public offering in 2019 was one of the most successful IPOs in the last two

0:31.0

decades.

0:32.0

Share some plant-based burger maker Beyond Meat had more than doubled in their market

0:35.7

debuts.

0:36.7

Well, his no meat burger had one of the juiciest IPOs in two decades, more than doubling

0:41.4

its price on the first day.

0:43.4

Beyond Meat signed up major celebrities as spokespeople, like Snoop Dogg.

0:48.6

How did I introduce plant-based meat to my family, plant-based products to my family?

0:53.2

Well, I just laid it on my snuck it in, you know.

0:55.6

And Kim Kardashian.

0:56.8

I believe so much in the mission of Beyond Meat that I've stepped into help with my greatest

1:01.4

asset, my taste.

1:04.5

But now, Beyond Meat is really struggling.

1:09.5

The list of their troubles is long.

1:12.1

The company is losing more and more money each quarter.

1:16.6

It's got over a billion dollars in debt.

...

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