[New post] $BIRD Allbirds the shoe maker, files for an IPO, $219M 2020 Rev +31% YoY

Mukund Mohan posted: " $BIRD Allbirds, a shoe company based in San Francisco, founded in 2015 by Joe Zwillinger and Tim Brown. They filed for an IPO and are looking to raise $200 - $300M in funding at $3B-$4B in Valuation. $BIRD is a global lifestyle (shoes and apparel)" New post on Best Engaging Communities $BIRD Allbirds the shoe maker, files for an IPO, $219M 2020 Rev +31% YoY by Mukund Mohan $BIRD Allbirds, a shoe company based in San Francisco, founded in 2015 by Joe Zwillinger and Tim Brown. They filed for an IPO and are looking to raise $200 - $300M in funding at $3B-$4B in Valuation. $BIRD is a global lifestyle (shoes and apparel) brand with a focus on sustainable shoes. In 2016 Time Magazine name their Wool Runner, the "Worlds most comfortable shoe". $BIRD online and direct to consumer channels account for 89% of their revenue, while 27 stores account for 11%. Allbirds founders Since their founding $BIRD has sold 8 Million pairs of shoes to 4M customers worldwide, of which 3.3M are in the US. Financial facts: 2020 $BIRD revenue was $219M +31% YoY, at 51.4% gross margins, generating $25M in losses. Market Opportunity: $BIRD targets the $1.8T footwear and apparel market, ($366B in footwear alone). $BIRD estimates their shoes cause 30% less carbon footprint than competitors sneakers. Thanks to this, they have a purpose driven brand and customer who are engaged and connected with the products. Approximately 53% of $BIRD net sales in 2020 came from repeat customers. $BIRD last raised $100M on Sep 2020 at $1.4B in valuation. Given the current brand hype we can expect $3B - $4B in valuation, which would imply a 15X - 20X EV/Revenue with negative EBITDA. The biggest risks to $BIRD are counterfeit knockoffs are proliferating the market, the perception that the brand produces expensive products and it is a niche brand appealing to a very limited set of customers. I am going to watch this from the sidelines. I like $BIRD and it has a cult-like following, but I am going to watch the post Covid and post IPO execution as a public company for 1-2Qs. If I do see acceleration in revenue and EBITDA I might be interested in $BIRD. S1 filing. Mukund Mohan | August 31, 2021 at 1:15 pm | Categories: Entrepreneurship | URL: https://wp.me/p1G7fm-1Dv Like Unsubscribe to no longer receive posts from Best Engaging Communities. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: http://bestengagingcommunities.com/2021/08/31/bird-allbirds-the-shoe-maker-files-for-an-ipo-219m-2020-rev-31-yoy/ Thanks for flying with WordPress.com