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The shoe company once beloved by VC founders and tech bros is scrapping sneakers altogether.
Allbirds became a Silicon Valley favorite when it launched in 2021, known best for its eco-friendly wool sneakers. The company just sold for a fraction of what it was once worth.
The wool shoe company made a surprising announcement about its future this week.
Allbirds is ditching wool sneakers for AI servers, rebranding as NewBird AI after locking in a $50M convertible financing facility.
The company announced a new name to reflect its AI aspirations, too.
After selling its business for $39 million last month, the company said it planned to buy powerful computer chips and rebrand itself NewBird AI.
Sneaker brand Allbirds to shift focus to AI compute infrastructure, as acquirer American Exchange Group will still sell Allbirds-branded product.
Allbirds ditches shoes for AI, sending shares soaring 800% in a wild pivot.
Well that's what you'd call a pivot. Allbirds, the once buzzy Silicon Valley shoe brand, is not going to make shoes anymore (though the brand may live on?), and instead it's going...
The company tried to sell sustainable shoes, but couldn't stop losing money. So the publicly-held firm is trying its hand at AI instead.
The DTC footwear brand may have overestimated its customers’ appreciation for sustainability, and underappreciated their desire for fashion.
After agreeing to sell all its assets last month for less than 1% of its previous $4 billion valuation, the shoe company Allbirds announced Wednesday that it would “pivot its busin...
Say hello to Newbird AI, a radical experiment in buying GPUs and praying that profits follow.
The footwear retailer announced a pivot no one saw coming, while another leader walked out the door at the sportswear giant.
The shoe brand that was once a favorite of the Silicon Valley tech scene is moving away from footwear and onto what its wearers have been obsessing over the most: AI. Allbirds...
Once-hyped, celebrity-backed company snapped up by American Exchange Group for fraction of former valueBusiness live – latest updatesAllbirds, the San Francisco sustainable trainer...
By Allison Morrow, CNN New York (CNN) — Shares of Allbirds — the 2010s pioneer of trendy sneakers and eco-conscious Millennial retail marketing — took flight in an almost comical f...
By Allison Morrow, CNN New York (CNN) — Shares of Allbirds — the 2010s pioneer of trendy sneakers and eco-conscious Millennial retail marketing — took flight in an almost comical f...
Once-hyped, celebrity-backed company snapped up by American Exchange Group for fraction of former valueBusiness live – latest updatesAllbirds, the San Francisco sustainable trainer...
Once a $4 billion apparel juggernaut, Allbirds will rebrand as NewBird AI, a “GPU-as-a-Service” company. Hey, if you can't beat ’em, join ’em.
With slowing sales and no path forward, Allbirds was left with just IP assets that became fodder for brand management firms such as American Exchange.
After years of losses and a 99 percent stock collapse, the struggling shoemaker is betting on AI infrastructure.
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