Allbirds was founded in 2014 by Tim Brown and Joey Zwillinger. In an interview with the Wall Street Journal from October 2018, Mr. Zwillinger noted an IPO was “not desirable for a variety of reasons,” adding that the company had been “profitable since basically day one.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
The New Zealand-based company started as a direct-to-consumer footwear company with a focus on being environmentally friendly and sustainable. Allbirds has since expanded its product offerings. The company has raised over $75 million in Venture Capital funding from investors including Fidelity, T. Rowe Price, Elephant Partners, Tiger Global Management, Expansion Venture Capital, Green Oaks Venture Capital, and Lerer Hippeau. It has been widely reported that Allbirds last raised $25 million in January 2020 at a post-money valuation of $1.7 billion.