US-headquartered eyewear retailer Warby Parker filed for a direct listing yesterday that will enable investors including payment services firm American Express to sell shares on the New York Stock Exchange.
Warby Parker began as an online-only service selling a range of fashionable eyeglasses, but has since opened more than 145 brick-and-mortar stores across North America, and also offers vision tests and eye exams.
The company’s overall funding stood at $535m as of a $120m series G round led by D1 Capital Partners and disclosed in August 2020 alongside a $125m series F led by Durable Capital Partners, with T Rowe Price and Baillie Gifford backing both rounds.
The series G round valued Warby Parker at $3bn and the 2020 funding came in the wake of a $75m series E round in 2018 led by T Rowe Price at a $1.75bn valuation, investing with Baillie Gifford.
T Rowe Price, Wellington Management, Tiger Global Management and General Catalyst had provided $100m in series D funding for the company in 2015 at a $1.2bn valuation.
American Express subsidiary American Express Ventures had joined General Catalyst, Tiger Global, Spark Capital, Thrive Capital, Menlo Ventures and Millard S. Drexler in a $41.5m series B round in 2013, and Warby Parker’s earlier backers include Lerer Hippeau, First Round Capital and SV Angel.
Image courtesy of Warby Parker Inc.
