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Allbirds Files for IPO: A Look at the Company

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Allbirds is a footwear company founded in 2016 by New Zealand’s former soccer player Tim Brown and engineer Joey Zwillinger. The name, Allbirds, got its name as the country has almost no native land animals.

The company started with only one product, Wool Runners, which Time Magazine called “world’s most conformable shoes.”

At Allbirds, we are on a mission to prove that comfort, good design, and sustainability don’t have to be mutually exclusive. We are dedicated to making the most sustainable footwear we can using premium natural materials, designed for the to and fro of everyday life," said Brown, on his LinkedIn. "Our commitment to making better shoes in a better way is fueled by a belief that the shoe industry needs to focus less on flash and more on thoughtfulness."

Allbirds popularity scored when high profile names like Barack Obama, Oprah Winfrey, Larry Page, Matthew McConaughey were spotted wearing it. 

In 2018, the company got more exposure when actor Leonardo DiCaprio announced his investment in Allbirds.

“Allbirds is on the forefront of developing new materials that will serve as a model for the footwear industry. This kind of innovation is crucial for creating a more sustainable future. I am proud to join the company as an investor," said DiCaprio in a statement. 

Despite all the publicity and popularity, the company with 27 physical stores has revealed continued losses.

On Aug. 31, the company filed to go public on the Nasdaq exchange under the ticker symbol BIRD. 

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