Allbirds IPO Raises $303 Million

Sustainable footwear brand Allbirds (San Francisco) raised $303 million during its initial public offering yesterday, reports Bloomberg. It reportedly sold about 20 million shares at $15 each.

The company has a market value of about $2.16 billion based on outstanding shares, an increase from last year’s round of funding that valued the brand at $1.7 billion. Seventeen investment banks are working on the Allbirds IPO including Morgan Stanley, JP Morgan and BofA.