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Sneaker Brand Allbirds’ IPO Filing Shows Sales Jump, Losses

Pitch focused on its sustainable, natural materials in shoes
Bloomberg previously said its value could be more than $2B

Sneakers displayed at an Allbirds store in the Georgetown neighborhood of Washington, D.C., in 2021. — Sneakers displayed at an Allbirds store in the Georgetown neighborhood of Washington, D.C., in 2021.Photographer: Al Drago/Bloomberg

By

Crystal Tse and

August 31, 2021, 12:57 PM UTCUpdated onAugust 31, 2021, 2:09 PM UTC

Allbirds Inc. is moving ahead with an initial public offering as it expands beyond the wool trainers that have become the unofficial footwear of Silicon Valley.

The direct-to-consumer shoe brand listed the size of the offering as $100 million, a placeholder that will change when terms of the share sale are set. The company was seeking to be valued at $2 billion or more in a listing, Bloomberg News reported in June.