Around the Net

Sustainable Shoemaker Allbirds Launches Successful IPO

  • Forbes, Thursday, November 4, 2021 5:25 PM
Sustainable shoemaker Allbirds raised more than $300 million in its initial public offering, with shares surging 91% on the first day of trading to give the company a valuation of $4.1 billion. "The San Francisco-based company, known for making sneakers out of wool, sugarcane and other natural materials, increased its offering to 20.2 million shares at $15 each on Tuesday evening, up from its original target of selling 19.2 million shares priced between $12 and $14," per Forbes. "It is the latest in a wave of venture-backed retailers to go public, following Warby Parker and Rent The Runway, both of whose share prices have declined since listing day."

Read the whole story at Forbes »

Next story loading loading..