Warby Parker is looking to raise $75 million for its Series E round of financing, Cheddar has learned.
The eyewear company disclosed its plans to raise money in a filing with the state of Delaware on March 7 that was signed by its president Neil Blumenthal and provided to Cheddar by [Lagniappe Labs](https://primeunicornindex.com/).
A spokesperson for Warby Parker didn't respond to a request for comment.
The company last raised $100 million in 2015 for its Series D at a $1.2 billion valuation. It's is seeking a higher share price for its Series E, which indicates that its valuation will likely be higher after it completes the financing round.
Since last raising money, Warby Parker has significantly expanded its retail footprint and plans to have nearly 100 stories open in the U.S. by the end of 2018. Last year it opened a $16 million optical lab dedicated to building its own glasses in-house. And in January, it started selling products for kids for the first time.
Warby Parker has raised $216 million in total since its founding in 2010 from investors such as General Catalyst, T. Rowe Price, and Lerer Hippeau Ventures.
*Reporting by Alex Heath*
Cheddar News breaks down some of the top business stories to look out for, including WeWork's bankruptcy filing and fast-fashion retailer Shein reportedly expecting a $90 million valuation upon its market debut. Plus, a new EV truck will have a backup gas generator.
WeWork has filed for Chapter 11 bankruptcy protection.
Bumble, the female-focused dating app, announced that Whitney Wolf Hurd, the company's founder and CEO, will step down in January.
WeWork officially has filed for bankruptcy.
With interest rates high, housing inventory low and Veterans Day just around the corner, Cheddar News took a look at how the current market is impacting those who served and continue to serve our country. Patton Gade, national director of military lending with UMortgage, explains how a VA loan works, its benefits and what's involved in the process of purchasing a home.
Stocks were mixed in Tuesday's early session as Wall Street came off a strong rally last week.
Google on Monday confronted the second major U.S. antitrust trial in two months to cast the internet powerhouse as a brazen bully that uses its immense wealth and people's dependence on one of its main products to stifle competition at consumers' expense.
Hilton Grand said it's in the process of purchasing Bluegreen Vacations in a $1.5 billion deal.
Walt Disney Co. named former PepsiCo veteran Hugh Johnston as its new chief financial officer.
The PlayStation 5 Slim will be reportedly released on Friday.
