In Brief

Posted:

10:30 PM PDT · March 30, 2026

Image Credits:Spencer Platt (opens in a new window) / Getty Images

- Connie Loizos

Allbirds is selling for $39 million. It raised nearly 10 times that amount in its IPO.

Allbirds, the wool sneaker brand that became a kind of unofficial uniform for the Silicon Valley set, has agreed to sell all of its assets and intellectual property to American Exchange Group for $39 million — which is roughly one-tenth of the $348 million it raised in its 2021 IPO and a fraction of the more than $4 billion valuation it briefly commanded on its first day of trading.

The deal still needs shareholder approval and is expected to close in the second quarter, with proceeds distributed to stockholders sometime in the third quarter. Shares jumped 36% on the news in after-hours trading. The stock had closed Monday at $2.98, giving the company a market cap of $24.5 million — meaning the $39 million sale price actually represented a premium to where shares were already trading.

The 11-year-old brand’s fall has been well-documented. After going public, Allbirds expanded aggressively into physical retail and adjacent product categories — leggings, jackets, performance running shoes — that didn’t connect with its core customers. Losses stacked up a a result; co-founder Tim Brown later admitted the rapid growth had cost the company “some of our DNA.“

American Exchange Group is a privately held, 18-year-old brand management firm and portfolio company that also owns Aerosoles and Jonathan Adler.

Topics

allbirds, American Exchange Group, Commerce

April 30

San Francisco, CA

StrictlyVC kicks off the year in SF. Get in the room for unfiltered fireside chats with industry leaders, insider VC insights, and high-value connections that actually move the needle. Tickets are limited.

Newsletters

Subscribe for the industry’s biggest tech news

TechCrunch Daily News

Every weekday and Sunday, you can get the best of TechCrunch’s coverage.

TechCrunch Mobility

TechCrunch Mobility is your destination for transportation news and insight.

Startups Weekly

Startups are the core of TechCrunch, so get our best coverage delivered weekly.

StrictlyVC

Provides movers and shakers with the info they need to start their day.

No newsletters selected.

By submitting your email, you agree to our Terms and Privacy Notice.

Apps

Airbnb is introducing a private car pick-up service

- Ivan Mehta

2 hours ago

Government & Policy

The Silicon Valley congressional race is getting ugly

- Connie Loizos

4 hours ago

Venture

Former Coatue partner raises huge $65M seed for enterprise AI agent startup

- Julie Bort

13 hours ago

Latest in Commerce

In Brief

Allbirds is selling for $39 million. It raised nearly 10 times that amount in its IPO.

- Connie Loizos

5 hours ago

Commerce

Meta turns to AI to make shopping easier on Instagram and Facebook

- Sarah Perez

Mar 25, 2026

Apps

Ads are coming to Apple Maps, as Apple expands its business offerings

- Sarah Perez

Mar 24, 2026