Warby Parker IPO: How to invest in this eyewear stock

3 min read | June 23, 2021 08:08 PM AEST | By Shreya Biswas

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Online retail company Warby Parker Inc is one of the latest firms looking to join the public market. The New York-based enterprise announced on Tuesday, June 22, that it has filed for a listing in the US.

Founded in 2010, Warby Parker is a well-known eyewear retailer operating in the US and Canada. The company has created a name for itself in the direct-to-customer online retail landscape.

The firm’s latest press release noted that is has chosen to confidentially apply for an initial public offering (IPO) of its Class A common shares with the US Securities and Exchange Commission (SEC). The company will seek to go public once the SEC clears its evaluation process.

Warby Inc – IPO size, price & ticker

Beyond the basic announcement, Warby Parker did not disclose any more details about its IPO plans, which means there is no official statement on how many shares the online retailer will be offering, and at what price, at the IPO.

It has also not revealed any information regarding its ticker symbol or the stock exchange it plans to launch its shares on.

There has been, however, some speculation about the company opting for a direct listing instead of an IPO, although Warby Parker has not made any indication in that direction.

As a private entity, Warby Parker is said to have raised about US$ 535.5 million over a course of nine rounds of funding, as per Crunchbase. Its latest financing, a Series G round, was reportedly held in August last year, raising a capital of about US$ 120 million.

The lifestyle eyewear brand’s investors’ list includes big names like venture capitalist General Catalyst, investment firm Tiger Global Management, capital market entity Forerunner Ventures, etc.

How to buy Warby Parker stocks?

Warby Parker is set to join an expanding crowd of e-commerce companies trading on Wall Street. Most recently, actor-cum-entrepreneur Jessica Alba’s beauty brand Honest Company debuted on the Nasdaq platform, following a US$ 412.8 million IPO. Vancouver-based telehealth app WELL Health Technologies (TSX:WELL) is also said to be looking for a US listing.

Investors interested in exploring Warby Parker as an investment option can either wait for its public debut, or consult an advisory firm that can assist in pre-IPO share trading.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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