Allbirds Sold for $39M, End of Independent Run?
California News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Allbirds, the eco-friendly sneaker brand, is being acquired by American Exchange Group for $39 million. The deal is expected to close in Q2, pending shareholder approval. The company is skipping its earnings release to focus on the transaction. Allbirds stock has plummeted from a $4 billion valuation in 2021 to just $24.5 million now. The buyout could signal the end of Allbirds independent run.
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