Allbirds

Allbirds is an American footwear and apparel brand that was co-founded in 2015 by Tim Brown and Joey Zwillinger. It is known for their minimalist designs, association with environmental, social, and governance (ESG) principles, and Silicon Valley. Its business model has primarily relied on direct-to-consumer commerce through its website and brick and mortar stores, although its physical retail has been closed. Allbirds was founded through an initial fundraising of US$119,000 on Kickstarter and based its corporate identity on sustainability. Since the 2020s, the company has been criticized by legal scholars for greenwashing after a case about their reporting of carbon offsets was dismissed. During the late 2010s, the brand's shoes became popular among tech workers in major US cities, particularly in Silicon Valley. Allbirds went public on November 3, 2021, but experienced poor sales soon afterwards; executive turnover followed the company through the end of 2024. On April 8, 2024, the company received a non-compliance notice from Nasdaq for performing below $1 for over 30 consecutive days. On March 30, 2026, Allbirds announced that it was selling its shoe business, trademarks and all assets and liabilities to American Exchange Group for $39 million. Two weeks later, the company announced it would be pivoting to providing computing infrastructure for artificial intelligence and renaming itself Smartbird.