'Just the beginning' after Kiwi company Allbirds' Nasdaq debut, says founder Tim Brown

Allbirds founder Tim Brown says it's "just the beginning" after the Kiwi company listed on the US sharemarket.

The brand's stock price soared on debut, rising 92 percent in its first day of trading to close at US$29.89 - and thousands of Kiwis were among eager investors buying into $BIRD. 

Brown, who is also co-chief executive of Allbirds, rang in the sharemarket bell in New York.

"Who would have thought we'd be here after just five years? But we're just getting started, this is just the beginning for us," he says.

In a rare move, a slice was carved off especially for Kiwi investors; they were offered the opportunity to buy shares at the initial price of US$15 online. 

"Hatch worked really hard with Allbirds to get exclusive access so that Kiwis could invest in the IPO before it went live on the market, and this is a New Zealand-first," says Hatch general manager Kristen Lunman.

Aucklander Nick Marquet was among the investors flocking to buy into $BIRD. He says its environmental ethos is what attracted him to it. 

"To be able to invest in a Kiwi company that's gone global is amazing, it feels like we're in the future and we're able to do things that 10 years ago were impossible."

Despite proving a hit with investors, Allbirds doesn't expect to be profitable any time soon. 

It's taken a big hit in the pandemic - its finances were in a US$113 million hole in June.

The money raised from its listing will be spent to set up new stores and create new shoe styles. 

"They have big global growth plans, so they had to look to a US listing to get those kind of dollars to meet those growth plans and scale that they're looking to do," Lunman says.

Newshub contacted Brown, but are yet to hear back - he's probably busy celebrating.