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Warby Parker Stock Pops In Direct Listing 2 years 6 months ago #519

  • Neha
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By Sophia Kunthara,

Warby Parker’s stock price popped 35 percent on its first day of trading, opening at $54.05 on Wednesday.

The eyeglass company went public through a direct listing on the New York Stock Exchange, the second major direct listing this week (following Amplitude). The company had set a reference price of $40.

As a private company, Warby Parker raised $535 million in funding from investors including Tiger Global Management, General Catalyst, Menlo Ventures and T. Rowe Price. The company last raised funding with a $120 million Series G round led by D1 Capital Partners in August 2020.

The company reported revenue of $270.5 million for the six-month period that ended on June 30, 2021, representing 53 percent growth year over year. During the same six-month time period, its net losses shrunk from about $10 million in 2020 to about $7.3 million in 2021.

Warby Parker is one of several venture-backed consumer brands to go public this year, including Rover and FIGS. It’s also one of a handful of VC-backed companies to go public through a direct listing, following companies like Roblox, Coinbase, and Amplitude.

Source : preiposwap.com/warby-parker-stock-pops-in-direct-listing/

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Warby Parker Stock Pops In Direct Listing 2 years 6 months ago #520

The eyeglass organization opened up to the world through an immediate posting on the New York Stock Exchange, the subsequent major direct posting this week (following Amplitude). The organization had set a reference cost of $40.

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Warby Parker Stock Pops In Direct Listing 2 years 6 months ago #521

The organization revealed income of $270.5 million for the half year time frame that finished on June 30, 2021, addressing 53 percent development year over year. During a similar half year time span, its overall deficits contracted from about $10 million of every 2020 to about $7.3 million out of 2021.

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