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Allbirds IPO Raises $303 Million

Sustainable footwear brand valued at $2.16 billion

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Sustainable footwear brand Allbirds (San Francisco) raised $303 million during its initial public offering yesterday, reports Bloomberg. It reportedly sold about 20 million shares at $15 each.

The company has a market value of about $2.16 billion based on outstanding shares, an increase from last year’s round of funding that valued the brand at $1.7 billion. Seventeen investment banks are working on the Allbirds IPO including Morgan Stanley, JP Morgan and BofA.

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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