Warby Parker: the next IPO star

Years ago, billion-dollar tech startups were considered the stuff of myth. These so-called tech “unicorns” were regarded as rare and highly exclusive. Today, however, the tech industry is teeming with them. Thanks to generous funding from private investors, companies like Uber, Airbnb, Dropbox, Spotify, Snapchat and Pinterest have all sprinted towards “unicorn” status and definitely created an impact on the business status quo. The latest startup to join this elite group is Warby Parker. Only five years old, the online and offline retailer of fashionable eyewear, is now reportedly worth $1.2 billion, based on a recent funding round of $100 million. The funding made Warby Parker one of the few ecommerce startups in the US to grow beyond a $1 billion valuation. Thanks to a very effective business model: Find a premium product, get rid of the middle man and sell the product online at an affordable price, Warby Parker has made huge inroads on sales because of its attractive pricing. It’s also one of the most successful online brands to open physical retail stores. The company now has 12 stores across the US. According to experts, the $1 billion valuation has placed the company on an IPO timetable and it could very well be New York’s next big IPO.
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