Allbirds: What Went Wrong From $4 Billion to $39 Million
In November 2021, two footwear companies went public within weeks of each other. Allbirds opened on the Nasdaq at a $4.1 billion valuation. On Running debuted on the NYSE at roughly $7.3 billion. Both were venture-backed. Both sold premium sneakers. Both had sustainability narratives.
Five years later, On