Oatly, the popular alternative milk company backed by Oprah, could go public this year amid red-hot IPO market
- Oatly, the popular alternative milk company that's backed by Oprah, Natalie Portman, and Blackstone, could go public this year, CNBC reported on Tuesday.
- The move to go public would come amid a red-hot
IPOmarket that saw strong debuts for high-profile unicorns like Airbnb and DoorDash.
- The Sweden-based company raised $200 million at a $2 billion valuation last July and has seen a surge in popularity ever since it entered the US market in 2017.
- Visit Business Insider's homepage for more stories.
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Oatly received a $200 million investment from a group of investors last July at a valuation of $2 billion, led by Blackstone, Oprah, Natalie Portman, and former Starbucks CEO Howard Schultz.
According to CNBC, Oatly could raise as much as $1 billion in their public debut. The IPO would come amid a frenzy for IPOs in recent months, with high-profile unicorns like Airbnb and DoorDash being well received by investors in their December debut.
Oatly's IPO valuation would "depend on the status of the economy in the face of the uncertain Covid pandemic," CNBC reported, citing sources familiar with the matter.
Oatly has hired Morgan Stanley, JPMorgan, and Credit Suisse to manage the offering, according to CNBC.
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