Allbirds, the New Zealand-born San Francisco-based shoe brand, is said to be readying a Nasdaq listing.
The New York Times reported the US-registered company, founded in 2016 by ex-All White Tim Brown and US business partner Joey Zwillinger, is in the process of interviewing banks in the lead up to an initial public offering.
A market valuation has not been offered, but the company was last valued at US$1.7 billion (NZ$2.3b) in October.
Allbirds is the second NZ-founded company in less than two months to prepare for a US IPO after Rocket Lab, which will merge with a special acquisition company (SPAC) to ring the bell on Wall Street.
Zwilinger told US media last year Allbirds had been approached by SPACs but said the company wouldn’t be “jumping at the opportunity of a SPAC without doing the rigorous prep the way we want to”.
The brand shot to prominence in Silicon Valley, the corner of California home to tech giants such as Google and Facebook, on the back of very successful online marketing campaigns and retail channels.
A certified B Corporation, it hangs its values on sustainability, with a promise to commit to “concrete changes” to its business by 2025 to combat climate change.
Allbirds now has several retail stores internationally, including in Auckland’s Britomart, and can name stars such as Leonardo DiCaprio as investors.
Former US president Barack Obama, actors Matthew McConaughey, Mila Kunis, and Ashton Kutcher have all been seen wearing Allbirds, helping the company to surge in popularity.
Its first shoe was the Wool Runner (which isn’t really for running), made from NZ merino wool. The company also sells versions of the shoe with a more breathable eucalyptus tree fibre outer, as well as boat shoes, high tops, running shoes, and slip-ons.
