Sneaker brand Allbirds leaps 93% on debut after upsized IPO

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.

Accounting for employee stock options and similar holdings, the company has a fully diluted value of almost $4.7 billion. That's up from a funding round last year that valued it at $1.7 billion, according to data provider PitchBook.


The company and its existing shareholders sold more than 20 million shares Tuesday after marketing 19 million of them for $12 to $14.

The company's listing is one of 417 on US exchanges that have raised an all-time high of more than $137 billion, according to data compiled by Bloomberg. That excludes special purpose acquisition companies, or SPACs.

Consumer IPOs accounted for $55 billion of that total, led by listings including the $1.78 billion offering by Olaplex Holdings and the $557 million raise by coffee chain Dutch Bros in September.