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Allbirds and Panera Eye the Public Markets - The New York Times


Exclusive: Allbirds is interviewing banks for an I.P.O.
Silicon Valley’s favorite shoe brand is headed to Wall Street. Allbirds is interviewing banks over the next few weeks to help it make a market debut, DealBook hears. The direct-to-consumer company was last valued at around $1.7 billion.
“It’s the materials.” Allbirds was founded by the New Zealand soccer star Tim Brown and Joey Zwillinger, a renewables expert. Its mantra is to “create better things in a better way,” and the company advertises that the merino wool in its shoes uses 60 percent less energy than typical synthetic materials. “One of the worst offenders of the environment from a consumer product standpoint is shoes,” Zwillinger told The Times in 2017. “It’s not the making; it’s the materials.” The brand’s flashy-but-logo-free shoes are popular among techies, celebrities (Leonardo DiCaprio is an investor) and Barack Obama. The company has raised more than $200 million since 2016. ....

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US senators call on Biden to back COVID vaccine patent waiver


Ten Democratic and progressive senators are urging US President Joe Biden to back India and South Africa’s appeal to the World Trade Organization to temporarily relax intellectual property rules so coronavirus vaccines can be manufactured by nations that are struggling to inoculate their populations.
The lawmakers, in a letter delivered to the White House on Thursday, wrote that Biden should “prioritize people over pharmaceutical company profits” and support the temporary waiver that could pave the way for generic or other manufacturers to make more vaccines, particularly in low- and middle-income countries who have struggled to gain access to doses. ....

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