Some put the valuation significantly lower.
Warby Parker has quite possibly fallen out of the $1 billion club, the Wall Street Journal reports.
Reports in 2015 suggested that the company was worth $1.2 billion following a $100 million round of funding.
But some mutual funds have recently slashed their estimates for the value of their stakes in the company, according to the Journal.
The amounts of the markdowns vary significantly. In the case John Hancock Investments, it's a 17 percent decrease. That would suggest a valuation of $889 million for Warby Parker.
Such valuations for privately held companies are implied, not actual. They're based on a variety of factors, such as the financial performance of comparable public companies.
A Warby Parker spokesman told the Journal that the mutual funds' valuations don't represent the company's performance.
Warby Parker made its mark as an e-commerce retailer but has since 2013 been opening physical stores. In January the company said it planned to open 25 stores in 2017.
Some analysts have suggested that Warby Parker might become a target for acquisition by Amazon.
Read more at Wall Street Journal (paywall)