How Allbirds went from a $2.2 billion IPO to a $39 million flop

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found How Allbirds went from a $2.2 billion IPO to a $39 million flopAllbirds agreed to sell its intellectual property and other assets to American Exchange Group for a small fraction of what it was worth just five years agoLast Updated: March 31, 2026 at 6:51 p.m. ETFirst Published: March 31, 2026 at 2:20 p.m. ETShareResizeListen(5 min)Allbirds’ expansion into clothing and physical stores turned out to be costly for the company. Photo: Getty ImagesWhat a difference just five years can make for a once-hot shoe company that has turned into “kind of a cliché.”When sustainable-sneaker maker Allbirds went public in 2021, it landed an initial market capitalization of $2.15 billion on hopes that environmentally minded comfort footwear — made from things like tree fiber and crab shells — would transform a shoe industry dominated by synthetic materials. About the Author Bill PetersBill Peters is a Los Angeles-based MarketWatch reporter who covers earnings.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.