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Friday, July 11, 2025

Allbirds Targets $2B Valuation in IPO

Allbirds/Design: Alex Brooks

Allbirds, the eco-friendly shoe brand, is looking to raise $269 million in its IPO, offering 15.4 million shares at $12 to $14 each — with existing stakeholders selling another 3.85 million shares.

With that many outstanding shares, the company could reach a market value of more than $2 billion, up from the $1.7 billion valuation it received following a $100 million funding round in September 2020.

Despite a 27% increase in revenue to $118 million during the first six months of 2021, the filing comes during a turbulent period for Allbirds.

  • For the six-month stretch that ended June 30, Allbirds reported a loss of $21 million, compared to $9.5 million during the same period a year prior.
  • On Monday, it said it expects to record a net loss of between $15 million and $18 million in the third quarter.
  • In August, the company estimated it would be unprofitable for the foreseeable future.

Allbirds still expects revenue to reach up to $62.5 million in the third quarter — compared to $47.2 million in Q3 2020 — due to higher sales in its brick-and-mortar stores. 

The company announced its own activewear line in August and is slated to sell a shoe in partnership with Adidas next year.

Allbirds hasn’t set an IPO date yet.

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