Shares of eyewear maker Warby Parker began trading at $54.05 this afternoon after the NYSE set a reference price of $40 a share, The Wall Street Journal reports. The company opted to go public via a direct listing that will test the market appeal of the direct-to-consumer brand.
At the opening price, Warby Parker, which is unprofitable and on track for about $535 million in revenue this year, is worth roughly $6.7 billion. That is more than double the valuation the company fetched last year in a private fundraising round. Read more.
