Allbirds, Silicon Valley’s favorite shoe company, has filed for an IPO
The Hustle

Allbirds, Silicon Valley’s favorite shoe company, has filed for an IPO

Allbirds, the sustainable shoemaker, filed for an IPO, calling it the 1st sustainable public equity offering.

Allbirds — maker of the official sneaker of Silicon Valley — has filed for an IPO, describing the event as the “first sustainable public equity offering.”

The company preemptively tapered expectations, claiming that, as a public benefit corporation, not all decisions it makes will maximize shareholder value.

Yet its sustainability focus hasn’t hindered growth

According to the numbers, Allbirds is firing on all cylinders:

Unfortunately, losses are growing as well

The company has posted a net loss each of the last 3 years and in the 1st half of 2021, and doesn’t expect the trend to end soon.

This is a common thread among D2C leaders:

Both Warby Parker and Casper have expanded their physical footprint, a track Allbirds will likely follow.

It’s also unclear if Allbirds is truly sustainable…

… or just more sustainable than its competitors.

One way to silence the critics would be to go perfectly sustainable. According to 2PM’s Web Smith, that would mean having a circular supply chain and not making new products.

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