Backed by Leonardo DiCaprio, ESG Sneaker maker Allbirds aims to be valued at more than $2 billion in its New York IPO, priced between $12 and $14. The market cap is about $1.86 billion, expected trading on Nov 3.
Founded in 2015, Allbirds says it is pioneering a Sustainable Public Offering with fundamental beliefs about the emerging generation of consumers: climate change as an existential threat to the human race, connecting purchase with impact on the planet, and little compromise between looking good, feeling good, and doing good. Barack Obama, Ashton Kutcher, and Google co-founder Larry Page have been spotted wearing Allbirds sneakers in recent years.
The past-12-month revenue and profit are $219 mi and $-26 mi. The company said it expects net revenue to grow up to 32% for the quarter ended Sept. 30, due to higher sales at its physical stores.
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