Allbirds ditches sneaker business to pivot to AI compute, stock surges over 700%
via fortune.com
Short excerpt below. Read at the original source.
Two weeks ago, Allbirds was a cautionary tale. The maker of the wool sneakers seemingly glued to the feet of every Patagonia-vested VC in 2019, once worth $4 billion, had a humiliating fire sale on April Fools’ Day and sold itself to a brand management company for $39 million—roughly 1% of its peak valuation. It […]