Allbirds, an eco-conscious shoe company popular with celebs and techies, is interviewing banks as it seeks an IPO, according to the New York Times.
Leonardo DiCaprio was an early investor. The famous Oscar winner and environmentalist supports the company’s mission to protect the planet.
The San Francisco-based company launched in 2016 and has products available in 35 countries, with 23 brick-and-mortar stores throughout Europe, Asia, New Zealand, and the U.S.
Co-founded by New Zealand soccer star Tim Brown, Allbirds uses 60% less energy than standard synthetic shoes. Footwear giants are taking notice.
- Adidas and Allbirds designed a shoe with footwear’s lowest-ever carbon footprint.
- The shoe is expected to hit the market by the end of 2021.
Back in September, Allbirds raised $100 million in a Series E funding round led by Franklin Templeton, giving the company a valuation of around $1.7 billion.
Prior to that round, it had already raised more than $200 million since 2016.