The sustainable sneaker maker is getting ready to step out soon with its Wall Street debut.
in June that Allbirds had filed confidentially for an IPO — and since then the next generation’s move toward Wall Street has only intensified with recent offerings from Warby Parker Inc. to beauty standout Olaplex and jewelry company Brilliant Earth Group.very much of a sayAfter the offering, the holders of the company’s Class B shares will continue to control 98.5 percent of the voting rights.
Allbirds said it’s control with a purpose, though, and that the dual class structure “is designed to allow for a thoughtful calibration of long-term objectives with short-term demands.” “When our founders established Allbirds, they set out to create a purpose-native company built upon a system that leverages nature in a responsible way — every aspect of our company is woven together with this mission, fueling a thriving financial business,” the company said. “While many businesses see tension between profit and purpose, we see opportunity.
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