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November 4, 2021

Allbirds valued more than $4bn following IPO stock surge

Eco-friendly sneaker firm Allbirds raised more than US$300m in its initial public offering (IPO) on Wednesday (3 November).

By Hannah Abdulla

Shares in Allbirds reportedly surged 91% on the first day of trade following its initial public offering (IPO) announcement to give the company a valuation of more than US$4bn.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

Allbirds makes sneakers out of natural materials including wool and sugarcane and has sold more than 8m pairs of shoes to over 4m customers globally, including 3.3m customers in the US since its 2015 debut.

On Tuesday (2 November) it increased its offering to 20.2m shares at $15 each, up from the original target of 19.2m shares which it would sell between $12-14. 

In its IPO prospectus, the company said: “Our rapid growth validates our value proposition and compelling business model,” noting net revenue has grown from $126m in 2018 to $219.3m in 2020, representing a compound annual growth rate (CAGR) of 31.9%.

“As we reflect on our first five years, it is clear that nothing matters more than the people we journey with,” Allbirds founders Tim Brown and Joey Zwillinger said. “More than anything, the completion of this IPO is a tribute to the Flock, our partners and collaborators, and our families who have believed in our vision and helped shape it into what it is today—the opportunity to build a category-defining brand to tell our grandkids about. We hope you join us on this journey.”

Related Companies

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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