E-Commerce & Retail

Allbirds to be sold for $39 million

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Allbirds, a footwear brand that went public in 2021, will be sold for $39 million to American Exchange Group. This sale follows Allbirds' decision to close physical stores and refocus on ecommerce as its market cap plummeted below $25 million from a peak valuation of $7.1 billion. Developers and tech professionals should monitor how this shift impacts direct-to-consumer retail strategies in the e-commerce space.

Read the full article at Digital Commerce 360

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