Warby Parker Files for NYSE Direct Listing

Kimberly Redmond  |

Video source: YouTube, CNBC Television

Eyewear company Warby Parker Inc filed paperwork with the US Securities and Exchange Commission (SEC) for a direct listing on the New York Stock Exchange. 

Tuesday’s filing confirmed Warby Parker’s statement

in June that it planned a public listing of its stock, indicating it would bypass a traditional initial public offering (IPO).

In a direct listing, there is no capital raised by the company, and only existing shares are sold to the public.

Warby Parker's current investors include Tiger Global, T. Rowe Price, General Catalyst, D1 Capital Partners and Durable Capital.

During its most recent round of funding in fall 2020, Warby Parker raised $245 million at a $3 billion valuation, according to 

Betting Against Elon Musk Has Not Been Profitable

The Wall Street Journal.

Founded in 2010, the eyewear maker got its start as a digital platform and has since expanded its offline footprint to more than 145 retail stores in the US and Canada.

In its filing on Tuesday, the retailer disclosed that while it has seen rising sales, it has also experienced widening losses over the past three years as it has grown.

The company also disclosed a 53% jump in revenue this year, reporting a net loss of $7.3 million on revenue of $271 million in the first six months of 2021. During the same period in 2020, Warby Parker had a net loss of $10 million on revenue of $177 million.

Summary Consolidated Financial Data

Image source: Warby Parker Form S-1, August 24, 2021. SEC EDGAR

Cryptocurrency exchange Coinbase Global Inc, data mining company Palantir Technologies Inc and streaming platform Spotify Technology also went public through a direct listing, a route that is generally less costly and time consuming than a traditional IPO, The Wall Street Journal noted.

According to the filing, Warby Parker is being advised by Goldman Sachs, Morgan Stanley and Allen & Co. Shares will be traded under ticker symbol WRBY.

_____

Source: Equities News

Stock price data is provided by IEX Cloud on a 15-minute delayed basis. Chart price data is provided by TradingView on a 15-minute delayed basis.

Trending Articles

Twitter Down 13% in Premarket Trading Friday as Musk Puts Deal on Hold
The Best Laid Plans of Mice and Men — Part I
Bumble Beats First Quarter Estimates, Has Over 3 Million Paying Users
Squarespace Beats Revenue Estimates With Record Q1
BridgeBio Pharma Inks Licensing Deal With Bristol Myers Squibb Worth up to $905 Million
How To Trade in a Bearish Market
AbbVie and Teva Weighing $5 Billion Opioid Lawsuit Settlement

Market Movers

Sponsored Financial Content