Hampton Creek Rallies Employees Around Unicorn Startup Valuation
- Vegan mayo CEO says funding round expected to close in weeks
- Speaking at staff meeting, Tetrick asks for careful spending
Hampton Creek CEO Rallies Employees Around Valuation
Josh Tetrick offered employees of his food startup Hampton Creek Inc. a morale boost by telling them that the company is about to reach coveted unicorn status. The co-founder and chief executive officer told staff that it’s finalizing a funding round valuing the Just Mayo maker at $1.1 billion, placing it among a group of venture-backed unicorn startups with valuations of at least $1 billion.
Tetrick told employees on Friday that a German media group will join a roster of investors from Asia and the U.K., as well as a “higher net wealth person in Silicon Valley,” according to a person who attended the meeting. Tetrick also said Hampton Creek had raised a previously unreported funding round of “a little bit over $100 million,” which valued the business at $750 million, said the person, who asked not to be named for fear of reprisal.