Eyewear company Warby Parker valued at over $6 billion after shares climb in debut

Australian dollars in Sydney, Friday, Jan. 15, 2016. (AAP Image/Joel Carrett) NO ARCHIVING
Neil Blumenthal and Dave Gilboa Co CEOs and Co founders of Eyeglass retailer Warby Parker begins trading via direct listing at the New York Stock Exchange (NYSE) in New York City, U.S., September 29, 2021. REUTERS/Brendan McDermid

(Reuters) -Shares of Warby Parker Inc jumped 35% in their U.S. market debut on Wednesday, notching up a valuation of over $6 billion for the eyewear company.

The company’s stock, which went public through a direct listing, opened at $54.05 per share compared with the reference price of $40 per share.

A direct listing lets companies list their stock on exchanges without selling shares, thereby sidestepping a costly and time-consuming initial public offering.

Tiger Global Management, General Catalyst, Baillie Gifford and D1 Capital Partners are investors in Warby. It had confidentially filed for a listing in June.

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