US eyewear brand Warby Parker’s stock price soared 30% on its first day of listing!

According to foreign media reports, the US eyewear startup Warby Parker made its public debut through a direct listing on Wednesday at $54.05 per share, a 30% surge from the previous reference price . The stock is now traded on the New York Stock Exchange under the ticker WRBY. Warby Parker's current valuation has exceeded $6 billion.

The report said that the benefit of Warby Parker's direct listing is that the company does not need to raise new funds from banks. By listing on an exchange , insiders can choose to sell shares at any time. The brand was initially valued at about $4.5 billion , and its sales continued to increase, and market expectations increased by another $1.5 billion.

It is reported that Warby Parker's sales have increased in recent years , but losses have also increased. According to documents submitted to the U.S. Securities and Exchange Commission, its net income in the fiscal year ending December 31, 2020 increased to US$393.7 million from US$370.5 million in 2019. Warby Parker's income and expenditure were relatively balanced two years ago , but in 2020, its net loss totaled US $55.9 million .

While the company’s stock has soared, Warby Parker has continued to lose money in recent months. It lost $7.3 million in the six months ended June 30.

Dave Gilboa, the company's co-CEO , said that although the company currently has less than 1% of the market share , its revenue and profit growth will usher in huge tailwinds in the next few years , and there will be many opportunities to expand physical retail business and e-commerce products in the future . Warby Parker was founded in 2010, and buyers can try on glasses at home . Later , the company further expanded its business by opening stores . In 2019, it also launched a series of daily contact lenses. From last year's sales , about 95% came from glasses, 2% from contact lenses , and the rest came from accessories.

Warby Parker expects third- quarter net revenue to be between $131 million and $133 million, up 26% to 28% from 2020. Sales for 2021 are expected to be between $532 million and $537 million , with net revenue expected to increase 25% in fiscal 2022.

It is reported that Warby Parker's investors include Tiger Global Management, General Catalyst, Baillie Gifford and D1 Capital Partners.

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