Allbirds: from shoes to an AI company
Intelligence Summary
- Allbirds, once a $1.8 billion shoe brand, pivots to artificial intelligence and rebrands itself as NewBird AI.
Allbirds: from shoes to an AI company
Allbirds, once a beloved shoe brand, has announced plans to transform itself into an AI company. The shift comes after a period of declining sales and a lack of profitability.
History of Allbirds
Founded in 2015, Allbirds quickly gained popularity by offering sustainable and comfortable shoes. Thanks to a successful Kickstarter campaign, the company grew rapidly and opened stores across the United States. By 2018, Allbirds was valued at as much as $1.8 billion.
However, the brand also hit a series of setbacks. Although Allbirds tried to expand into apparel, the move turned out to be a failure. The company’s aesthetic fell out of favor, and sales dropped significantly.
Acquisition by American Exchange Group
In March 2026, Allbirds was acquired by holding company American Exchange Group for $39 million. The acquisition marked a turning point in Allbirds’ history, after it had once been seen as a promising technology company.
Announcement of the pivot to AI
On April 15, 2026, Allbirds announced that it would focus on developing AI technology. The company called this a
