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Silicon Valley’s It sneaker company raises $17.5M

The it shoe for Silicon Valley techies just raised $17.5 million from a host of investors — fortifying its plan to open retail stores and to expand outside the US.

Fans of the $95-a-pair all-wool Allbirds shoes — including Larry Page, Ryan Seacrest, Matthew McConaughey and Camila Alves — rave about their comfort and sustainable materials.

Allbirds’ Series B funding came from Tiger Global Management, which has funded Spotify, Warby Parker, Peloton and Facebook. The company’s total funding has now reached$27.5 million.

Allbirds was founded by Tim Brown, a former New Zealand soccer star, and Joey Zwillinger, a former Goldman Sachs analyst.

The funding will be used to open stores — a pop-up is opening in Soho this month — and to expand to new markets outside the US and New Zealand, Zwillinger said.

Source: http://nypost.com/2017/09/05/silicon-valleys-it-sneaker-company-raises-17-5m/

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