According to the New York Times, popular ecofriendly shoe brand Allbirds is interviewing banks to help the company launch an IPO. The brand counts actor Leonardo DiCaprio as an investor, while former U.S. President Barack Obama is said to be a customer. Pro soccer player Tim Brown and renewables expert Joey Zwillinger started Allbirds five years ago to make ecofriendly shoes out of merino wool from Brown’s native New Zealand.
In 2018, DiCaprio announced his investment via Twitter touting Allbird’s eco-friendly business model.
Allbirds raised $100M at a reported $1.6B valuation last September in a Series E funding round led by Franklin Templeton, alongside T. Rowe Price, Baillie Gifford, TDM Growth Partners, Rockefeller Capital Management and other investors. The firm has raised more than $200M since its 2016 launch.
Allbirds sells its shoes online and via 21 brick-and-mortar stores in the United States, United Kingdom, New Zealand, Europe and Asia. The company said in September that it planned to use proceeds from its latest fundraising to grow its brick-and-mortar network, as well as to enter new product categories and continue expanding internationally.