Allbirds, Once Silicon Valley’s Favorite Shoe, Sells for $39 Million

The New York Times • March 31, 2026 • business

Key Points:

Allbirds, once valued at $4 billion during its 2021 public debut, is being sold for just $39 million to American Exchange Group, pending shareholder approval and expected to close in Q2 2026.
The deal aims to reposition the eco-friendly sneaker brand for future growth, according to CEO Joe Vernachio.
Allbirds was a prominent example of the 2010s venture capital trend favoring direct-to-consumer brands, many of which have struggled to maintain their early valuations.
Industry analysts note that Allbirds' decline reflects a loss of initial hype and limited widespread consumer appeal beyond niche markets.