Sneaker Maker Allbirds Jumps in Public Market Debut

Shares of sneaker maker Allbirds Inc. rose 60% in their market debut Wednesday, valuing the company at about $3.8 billion.

The San Francisco-based company, founded in 2015, makes a range of apparel but is best known for its low-profile shoes, which have gained popularity especially among tech-industry workers. One Silicon Valley employee told The Wall Street Journal last year that more than half his colleagues were wearing them.

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