Allbirds Prepares to IPO within a Hot Market Posted on 1884
Shoemaker, Allbirds, is in the process of interviewing banks as they prepare to go public, according to a report in the New York Times DealBook. The company has been valued at approximately USD1.7 Billion.
The company, which began as a Silicon Valley eCommerce retailer, has since opened stores and gained attention from celebrities such as investor Leonardo DiCaprio and Barack Obama. Its Wool Shoes have become popular within the tech world of Silicon Valley.
Allbirds was founded by soccer star Tim Brown and Joey Zwillinger, an engineer and “renewables expert.” It has managed to raise over USD200 Million since 2016 and just closed on a USD100 Million round of venture capital in September.
Exclusive: Allbirds is interviewing banks for an I.P.O.
Silicon Valley’s favorite shoe brand is headed to Wall Street. Allbirds is interviewing banks over the next few weeks to help it make a market debut, DealBook hears. The direct-to-consumer company was last valued at around $1.7 billion.
“It’s the materials.” Allbirds was founded by the New Zealand soccer star Tim Brown and Joey Zwillinger, a renewables expert. Its mantra is to “create better things in a better way,” and the company advertises that the merino wool in its shoes uses 60 percent less energy than typical synthetic materials. “One of the worst offenders of the environment from a consumer product standpoint is shoes,” Zwillinger told The Times in 2017. “It’s not the making; it’s the materials.” The brand’s flashy-but-logo-free shoes are popular among techies, celebrities (Leonardo DiCaprio is an investor) and Barack Obama. The company has raised more than $200 million since 2016.
Allbirds is reportedly interviewing banks as it prepares to go public on the New York stock Exchange.
The New York Times was first to report the news.
Allbirds – known for its low-key, comfy sneakers – has grown rapidly in the last five years.
Sustainable sneaker brand Allbirds is making plans to go public, according to a New York Times DealBook report early Wednesday.
The company, which is famous for its unbranded, comfy, sustainable shoes that have become a Silicon-Valley staple, has grown rapidly since it launched in 2016.
After raising $100 million in funding last September, the company was valued at more than $1 billion and rumors of an upcoming IPO started to circulate.
SFBT Wednesday Digest: Allbirds to take IPO flight; City, UC at odds over Berkeley plan bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Ex-All White Tim Brown s shoe company set for $2.4b US listing
28 Apr, 2021 07:10 PM
4 minutes to read
Tim Brown ex-All White and founder of Allbirds talks business.
Allbirds is set to follow Rocket Lab and become the second company founded by a Kiwi to lineup a multi-billion Nasdaq listing this year.
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The maker of environmentally-friendly footwear, made from New Zealand Merino wool and various recycled materials, was founded in 2006 by ex-All Whites captain Tim Brown and Joey Zwillinger - a renewables engineer who Brown met in San Francisco, where the company is now based.
obama wearing a bomber jacket and allbirds to the duke-unc game is the level i want to be at pic.twitter.com/PbZojgnTvW alexa (@alexabtn) February 21, 2019