Joseph Zwillinger, the man behind the first ‘sustainable’ IPO
The Allbirds co-founder, known for his shoes and apparel made from renewable materials, is preparing for a one-of-a-kind initial public offering.
In an article published in 2016, Time Magazine Awards for Sports Shoes Developed by AllbirdsMade with Merino wool fabrics, known as the world’s most comfortable footwear. But make no mistake, the San Francisco-based startup’s footwear and apparel has other perks. Faithful to their motto “Mother Nature Made Us Do It”, Allbirds are already famous Using sustainable materials in their products, such as wool, but also eucalyptus fibers or castor oil. The company, which was established in 2015, is now striving to achieve sustainable underwriting“Fantastic first…
“Our vision is that Allbirds’ initial public offering will lay the foundation that other companies can use in future SPOs.”
Behind the event hides a duo: Tim Brown, a former New Zealand soccer player who, in 2014, launched a crowdfunding campaign to develop Merino wool sneakers, and Joey ZwillingerEngineer specializing in renewable materials.
Together, they founded the Allbirds Company, especially relying on it employment Zwillinger experiment, who was previously Vice President of Industrial Products Business at biotech company Terravia. This graduate of the Wharton School in Pennsylvania was developing sustainable polyurethane there from microalgae. Building on its success and endorsement by famous personalities such as Leonardo DiCaprio, the Allbirds don’t intend to stop there, and Zwillinger is gearing up, Now, the startup has entered the NASDAQ stock exchange.
permanent subscription
According to Bloomberg News, the company will seek to be evaluated at At least $2 billion upon listing. The latter promises to be unique.
In a prospectus issued on Tuesday, the company has already said that it wants to make this happen A sustainable public offering of shares (SPO). “Our vision is that Allbirds’ initial public offering lays the foundation that other companies can use for future SPOs,” the company said. The company also counts Publication of an evaluation during the IPO. More efforts will be It is reported annually, such as the development of a human rights policy and the commitment of suppliers to address environmental issues.
Allbirds also revealed that investor profiles in terms of environmental, social and governance criteria will be taken into account when selecting the funds to be awarded shares in the IPO.
The sustainable has the wind in its sails
It must be said that Allbirds A B-Corp, which means that its board of directors is legally obligated to strike a balance between societal and environmental benefits and requirements. Other startups focused on sustainable development have recently appealed to the financial markets. We’ll mention The Honest Co. star Jessica Alba and Oatly Group AB, backed by Oprah Winfrey.
If sustainability thrives in markets, revealing these requirements in a legally binding document adds value. Legality of Allbirds’ Obligations.
Profile personly
2009-2015: Joey Zwillinger is Vice President of Industries at Terravia Holdings.
2014: Former professional soccer player Tim Brown has launched a crowdfunding campaign on Kickstarter to develop a trial version of a sneaker made from merino wool fabrics.
2015: Joey Zwillinger cofonde Allbirds and Tim Brown Company.
2016: Time magazine rated the Allbirds sneakers, made of merino wool fabrics, as the most comfortable in the world.
31/8/2021: Allbirds announces a “sustainable” initial public offering.
“Organizer. Social media geek. General communicator. Bacon scholar. Proud pop culture trailblazer.”