糖心视频

shares popped on the first day of trading on the Nasdaq up 18 percent to close at $20.20 per share.

Subscribe to the Crunchbase Daily

When trading began Thursday, shares opened at $22.12 per share and went as high as $22.74 in early trading before coming down slightly, with 43.2 million shares changing hands, .

The Sweden-based oat milk company priced the shares at $17 each ahead of the IPO, giving the company a valuation of nearly $10 billion, .

Founded in 1990, the company, filing as Oatly Group AB, touts itself as 鈥渢he world鈥檚 original and largest oat milk company,鈥� making a list of products, including milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks. In addition, it was 鈥渓eading the transformation of the global dairy market, worth approximately $600 billion in the retail channel alone as of 2020,鈥� according to the filing.

Oatly revealed an in April, as well as a $60.3 million loss on $421.3 million revenue in 2020, compared with $35.6 million on $204 million in revenue for 2019.

To date, the company has in known venture-backed funding, according to Crunchbase data. Its most recent raise was, led by last July. It has also attracted some celebrity backers, such as , and .

In recent years, there has been a rise in plant-based and other beverage companies that have come on the market amid sustainability concerns related to the dairy industry.

Per capita actually started declining more than 40 years ago, according to estimates from the. The number has steadily decreased from 247 pounds per person per year in 1975, to 141 pounds in 2019.

Illustration: