Deals

Sneaker Brand Allbirds Leaps 93% in Debut After Upsized IPO

Eco-friendly shoemaker joins flurry of consumer listings
Allbirds $4.7 billion diluted value jumps from 2020 round

An Allbirds store in the Georgetown neighborhood of Washington, D.C.Photographer: Al Drago/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Crystal Tse and Katie Roof

November 3, 2021 at 4:35 PM UTC

Updated on

November 3, 2021 at 8:41 PM UTC

This article is for subscribers only.

Allbirds Inc. rose 93% in its trading debut after its initial public offering topped the shoemaker’s goals to raise $303 million.

Shares of the San Francisco-based company, which sold in the IPO for $15, opened trading Wednesday at $21.21 and briefly rose as much as 116%. The stock closed at $28.89, giving the company a market value of $4.2 billion.