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.
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 the time the AXNY deal was announced, Allbirds ' market cap had fallen to just $24.5 million , meaning the $39 million sale price actually represented a premium to where shares were trading.
Shares jumped 36% on the news in after hours trading. The decline followed years of mounting losses, a 2023 annual loss of $101 million , leadership changes, strategic reorganizations, and a painful retreat from retail.
By February 2026 , Allbirds had closed all remaining full price stores in the US , shifting focus entirely to e commerce, wholesale relationships, and international distributor partnerships…
