•1 min read•from TechCrunch
Allbirds is selling for $39 million. It raised nearly 10 times that amount in its IPO.
Our take
Allbirds, the sustainable footwear brand known for its eco-friendly products, is now selling for $39 million, a stark contrast to the nearly $400 million it raised during its IPO in 2021. The brand's decline has been well-documented, highlighting the challenges it faced since going public. Originally backed by venture capital, Allbirds aimed to disrupt the market with its innovative approach to sustainability. However, recent developments underscore the difficulties of maintaining momentum in a competitive landscape, prompting reflection on its future trajectory.
The collapse of the brand, which was originally venture-backed and that went public in 2021, has been well-documented.
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