Eyewear company Warby Parker valued at over $6 billion after shares climb in debut

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The company’s stock, which went public through a direct listing, opened at $54.05 per share compared with the reference price of $40 per share.

A direct listing lets companies list their stock on exchanges without selling shares, thereby sidestepping a costly and time-consuming initial public offering.

Tiger Global Management, General Catalyst, Baillie Gifford and D1 Capital Partners are investors in Warby. It had confidentially filed for a listing in June.