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About
Summary
Valuation

Founded: 2011

Headquarters: Alameda, California

Eat Just develops plant-based alternatives to eggs, mayonnaise, and meat. Good Meat, a division of Eat Just, offers meat made from animal cells instead of livestock.

Key Facts

1

Eat Just products are made entirely of plants and animal cells instead of slaughtered livestock and contain zero cholesterol and low saturated fat, enabling individuals to consume sustainable protein sources without affecting their health.

2

Eat Just applies cutting-edge science and technology to create healthier, more sustainable foods.

3

Eat Just’s key ingredient is protein from the mung bean, which is cholesterol-free, non-GMO, and packed with as much protein as many animal proteins. The ingredients use less water, less land, and emit less CO2e than conventional animal sources, enabling customers to prepare their food items with the required nutrients and protein of an egg.

4

The Company’s offerings include a mung bean-derived egg replacement sold under the JUST Egg brand and meat made from animal cells rather than livestock sold under the GOOD Meat brand.

5

Eat Just’s most-popular product, the JUST Egg, has sold the plant-based equivalent of over 100 million chicken eggs. JUST Egg is currently available at 20 of the top 23 retailers in the U.S.

6

More human beings today are consuming egg protein than any other animal protein.

7

According to Agri Investor, CEO Josh Tetrick recently said the company “aims to achieve operating profitability by the end of the year and enter public markets soon after.”

8

In Dec 2020, regulators in Singapore issued Eat Just the world’s first approval for its cultured meat, chicken replacement product “GOOD Meat.”

9

The company has unveiled an international expansion plan that involves partnerships with SPC Samlip of South Korea, Betagro Group of Thailand, Grupo Bimbo of Mexico, Alianza Team of Colombia, and Delivery Hero of Germany. Eat Just had previously announced manufacturing and distribution partnerships with Italian egg company Eurovo and German poultry group PHW.

10

Eat Just has been singled out by Bill Gates as “one of three companies shaping the future of food.”

11

The company has appeared on CNBC’s Disruptor 50 List, on Fast Company’s list of the most innovative companies in food and on the TIME 100 New Scientific Discoveries list. In 2015, the World Economic Forum recognized Eat Just as a top technology pioneer.

12

Eat Just recently announced it will be supplying to fast-food chain Dicos, a local rival to McDonald’s and KFC in China, where Eat Just will add its plant-based eggs to the restaurant’s breakfast items across more than 500 locations.

13

CEO Josh Tetrick recently told CNBC that “we can live in a world in the not-too-distant future where your egg breakfast or chicken sandwich don’t require a single animal to be harmed or a single tree to be cut down.”

14

In May 2022, GOOD Meat, the cultivated meat division of Eat Just, announced that it signed an exclusive multi-year agreement with ABEC, Inc. to design, manufacture, install and commission the largest known bioreactors for avian and mammalian cell culture. Ten 250,000-liter bioreactors will form the foundation for GOOD Meat’s large-scale cultivated meat facility, which will be located in the United States. When fully operational, the complex will have the capacity to produce up to 30 million pounds of meat without the need to slaughter a single animal.

15

In January 2023, Eat Just announced that 7-Eleven Canada’s “Healthy To Go” menu is rolling out to stores across the country, making plant-based eating even more convenient for people on the go. The premier name in the convenience retailing industry debuted its first-ever plant-based breakfast item at 550 locations in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. The Plant-Based Breakfast Sandwich features JUST Egg Folded, Impossible Sausage Made From Plants, and Violife Cheddar Style Slice on an English muffin.

16

In March 2023, GOOD Meat, the cultivated meat division of Eat Just, announced that it has received a "no questions" letter from the U.S. Food and Drug Administration as part of one of the agency’s first pre-market consultations for a new kind of meat, poultry and seafood made from cells instead of raised and slaughtered animals. The letter means that following a careful and rigorous evaluation, the FDA has accepted the company’s conclusion that its first poultry product, cultivated chicken, is safe to eat. With this landmark decision, Eat Just becomes the first company with cultivated meat clearances in two countries - the U.S. and Singapore. Good Meat is the second company in the U.S. to clear a regulatory hurdle for its cultivated meat product grown using animal cells.

17

In April 2023, Barnes & Noble, the largest bookseller in the United States, introduced its JUST Egg Breakfast Sandwich at all B&N Cafés beginning. The new menu item is the first fully plant-based sandwich offered at B&N Cafés, giving customers a more sustainable way to fuel their day. The sandwich features JUST Egg Folded, melted Violife smoked provolone and creamy plant-based aioli on a soft ciabatta roll. With more than 500 stores in all 50 states, this limited time offering represents JUST Egg’s largest U.S. foodservice partnership to date.

18

In August 2023, recent Nielsen data shows a 14% increase year-over-year in the number of retail locations in the United States where consumers can find JUST Egg. This jump has been led by the addition of 1,000 new Walmart stores carrying the pourable JUST Egg and another 1,000 Walmart stores carrying JUST Egg Folded. In addition to those significant increases, in May, more than 800 new Kroger stores began carrying JUST Egg Folded.

19

In August 2023, Eat Just announced in the last year, JUST Egg has grown its college and university accounts by 45%, adding more than 40 new campuses since January alone. This means that a total of 120 higher ed institutions now offer delicious plant-based egg dishes for students to more easily match their beliefs with what’s on their plates.

Industry

Primary Vertical

FinTech

Mosaic Score

100

Money - 100

Momentum - 100

Management - 100

Market - 100

What is a Mosaic Score?

Employees: 500


Key Officers

Name Work History Title Status
officer name 1 Founder Current
officer name 2 Founder Current
officer name 3 Founder Current

Customers

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Key Investors

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Size of Market

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Market Position

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Valuation & Fundraising

Last Round: Jan. 2021, Seed

Valuation Post-Money: $10M

 

Amount Raised: $1M

Total Funds Raised: $10M

 

Linqto Implied Valuation: $10M


Funding Rounds

Date Round Amount Valuation
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M

Valuation Over Time

Linqto Chart

1 buyback

Competitive Landscape

Company Valuation Revenue

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B