Allbirds, once a darling of Silicon Valley’s fashion crowd, is selling its assets to American Exchange Group for $39 million. The deal comes after the brand struggled to connect with its core customers as it expanded rapidly into new product categories. The company had raised over $348 million in 2021 and briefly reached a valuation of over $4 billion but now faces significant losses. The sale price represents a premium, indicating shares were already undervalued before the news was released.
Source: https://techcrunch.com/2026/03/30/allbirds-is-selling-for-39-million-it-raised-nearly-10-times-that-amount-in-its-ipo