Warby Parker Files for ‘Public Listing’ Without Detailing Plans
(Bloomberg) -- Prescription eyewear seller Warby Parker said it has filed with the U.S. Securities and Exchange Commission to go public.
The New York-based company said in a statement that it expects to proceed with a “public listing” after the SEC completes its review. That phrasing has been used by some companies that have gone public through direct listings, which have become a more frequently used alternative to traditional initial public offerings.
A representative for Warby Parker didn’t immediately respond to a request for comment on details of the company’s plans.
JAND Inc., which does business as Warby Parker, raised $120 million in its most recent funding round in 2020, giving it a value of $3 billion, according to data provider PitchBook. The company is targeting a valuation higher than that of its last fundraising, Bloomberg News has reported.
Launched in 2010 by a group of four classmates at the University of Pennsylvania’s Wharton School, Warby Parker sells low-cost prescription eye glasses and contact lenses. The company, considered a pioneer of direct to consumer e-commerce, retails its products in the U.S. and Canada through its website as well as a network of physical outlets.
Warby Parker has also spawned a lot of competition in the eyewear space, with other upstart companies coming out with similar frames at cheaper prices.
Its investors include General Catalyst, Tiger Global Management, Forerunner Ventures, Spark Capital and Menlo Ventures.
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