4 hours ago - Business
Allbirds ties up sale for just $39 million
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Allbirds, the wool sneaker maker that helped drive the DTC craze of the late teens, has agreed to sell its assets and IP to brand management firm American Exchange Group for just $39 million.
The big picture: That's a significant premium to where Allbirds shares have traded, but a far cry from its market highs after going public in late 2021.
By the nunbers: Allbirds raised $348 million in its IPO after having raised around $200 million from VCs (who last valued the company at $1.7 billion in 2020).
- One of those venture backers, Maveron, still holds more than a 10% stake.
What to watch: The San Francisco-based company is set to release 2025 earnings after Tuesday's closing bell.
