Allbirds, once valued at $4 Billion, Is Selling All Its Assets to American Exchange Group for $39 Million

Allbirds, Inc. (NASDAQ: BIRD), the sustainable footwear brand that became a shorthand for Silicon Valley minimalism, has agreed to sell all of its intellectual property and assets substantially to American Exchange Group (AXNY), a New York based accessories design, licensing, and manufacturing company, for an estimated $39 million in cash. The deal was unanimously approved by Allbirds‘ Board of Directors, is subject to shareholder approval, and is expected to close in the second quarter of 2026, with net proceeds distributed to stockholders in the third quarter of 2026. A proxy statement seeking shareholder approval is expected to be filed no later than April 24, 2026.

From $4 Billion to $39 Million: A Steep Fall

The sale price tells the full story of Allbirds‘ trajectory. The brand raised nearly $348 million in its 2021 IPO and briefly commanded a valuation of over $4 billion on its first day of trading. By…