Sustainable Shoemaker Allbirds Goes Public on the Nasdaq

Sustainable footwear and apparel company Allbirds made its public debut on the Nasdaq on Wednesday, and CFO Mike Bufano joined Cheddar's "Between Bells" to discuss the IPO and the company's $3.3 billion valuation. Bufano attributed its recent success to product offerings and expanded brick and mortar locations. "There's lower returns when people go to a store and then there's no outbound shipping when people go to a store as well. So, the stores are both great brand beacons, they're profitable in and of themselves, and they help the overall margin profile of the business," he said.