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Allbirds to launch IPO with US$2 billion valuation

Kiwi-founded sustainable sneaker brand Allbirds is aiming to achieve US$2 billion valuation in its IPO debut in New York.  

The brand said in a regulatory filing that it has launched a roadshow for the initial public offering of 19.2 million shares of its Class A common stock. The initial public offering price is expected to be between $12 and $14 per share, which means the company would raise about $269 million in its listing. 

Allbirds has not yet disclosed the date of its IPO, but it is expected to list at the end of this year. 

Founded in 2015 by Tim Brown and Joey Zwillinger, the certified B Corp company is known for its eco-friendly footwear with minimalist designs. Allbirds’ products feature superfine New Zealand merino wool and has since evolved to include a eucalyptus tree fiber knit fabric and a sugarcane-based EVA foam (SweetFoam).

 Allbirds serves customers across 35 countries through 34 stores and its e-commerce website.

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