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00:00OLIVIA -- OLIVIA ZALESKI IS OUR TECHNOLOGY REPORTER. WHERE ARE WE ON THIS HAMPTON CREEK STORY? OLIVIA: YESTERDAY, -- THIS MORNING, WE REPORTED THAT THE DEPARTMENT OF JUSTICE OPENED A CRIMINAL INVESTIGATION INTO HAMPTON CREEK AND THE PURCHASE OF THEIR OWN PRODUCT. LAST WEEK, WE KNOW THE SECURITIES AND EXCHANGE COMMISSION OPENED AN INQUIRY INTO THE COMPANY AS WELL. CAROL: THEY ARE BASICALLY LOOKING TO SEE IF HAMPTON CREEK WAS GIVING UP THEIR NUMBERS, CORRECT? OLIVIA: CORRECT. WE DON'T KNOW IF THEY ARE LOOKING AT OTHER THINGS YET. CAROL: GIVE US SOME BACKGROUND ON HAMPTON CREEK. WHO THEY ARE, AND WHY THEY MIGHT NEED TO DO THIS? OLIVIA: HAMPTON CREEK IS AN INCREDIBLE COMPANY WITH A BEAUTIFUL MISSION. THE MISSION OF THE COMPANY IS TO REPLACE MEAT PRODUCTS WITH PLANT-BASED PROTEINS. IF YOU HAVE MAYONNAISE AND YOU ARE PUTTING EGG IN THE MAYONNAISE, THERE WOULD CREATE A PLAN BASED PROTEINS USE INSTEAD. AT THE PROFOUND IDEA , IF YOU THINK IS DEVELOPING ECONOMIES GROW AND THE APPETITE FOR ME PRODUCTS CONTINUES TO -- FOR MEAT PRODUCTS CONTINUES TO GROW AT AN UNSTABLE LEVEL. A LOT OF COMPANIES HAVE POURED IN MONEY. WE HAVE FOUNDERS FUND GIVING THE MONEY, COASTAL VENTURES GIVING MONEY, AS WELL AS NOTABLE LARGE PLAYERS IN THE SPACE LIKE MARK BENIOFF. CAROL: WHAT'S INTERESTING IN TERMS OF STRATEGY -- THEY HAVE DONE A LOT OF IN-STORE DEMOS TO POPULARIZE THE PRODUCT AND SAY HOW IT'S A BETTER ALTERNATIVE TO SOME ESTABLISHED BRANDS. OLIVIA: EXACTLY. THEY BUILD THEIR BRAND BASED ON THESE EVANGELISTS THAT THEY CALL CREEKERS. THERE ARE JUST OVER 100 OF THEM, THEY WOULD DO THESE IN-STORE DEMOS. WHAT WE FOUND IN OUR REPORTING IS THAT JOB TITLE OR JOB DESCRIPTION REALLY CHANGED IN 2014. THEY STARTED ASKING PEOPLE DURING THE IN-STORE DEMOS TO PURCHASE THEIR OWN PRODUCT. CAROL: TO BOOST SALES. TALK TO US ABOUT THE AMOUNT OF BACKERS THEY HAVE HAD. OLIVIA: AT THE MOMENT, WE UNDERSTAND THE COMPANY IS TRYING TO CLOSE AROUND ANY MOMENT NOW THAT WOULD VALUE THE COMPANY OVER $1 BILLION. I KNOW THEY ARE INTERESTED IN OR PURSUING VENTURE CAPITALISTS IN ASIA AT THE MOMENT. THE COMPANY ALSO HAS RAISED, TO DATE, ABOUT $220 MILLION SO FAR FROM THESE NOTED VENTURE

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Feds Look at Why Hampton Creek Bought Own Mayo

The U.S. Justice Department has opened a criminal investigation into whether Hampton Creek Inc. committed fraud when it bought its own vegan mayonnaise from stores, according to people familiar with the matter. Bloomberg's Olivia Zaleski reports on "Bloomberg Markets." (Source: Bloomberg)

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