Tuesday, April 21, 2026

Sustainable Shoe Company Pivots to AI, Adds $127 Mil Value

Allbirds made a surprising announcement Wednesday that it is pivoting from shoes to artificial intelligence.

Posted by sitzkrieg at 11:31 PM | 3 COMMENTS | permalink

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If you're one of the investors who decided that Allbirds is worth over 6 times as much as an AI company with no product than as a shoe company then you deserve to lose all of your money.

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-- Dare Obasanjo (@carnage4life.bsky.social) Apr 16, 2026 at 1:25 AM

Comments

Yeah. In 2021 their stock was worth $520.

Now it's worth eleven bucks.

What a turnaround.

#1 | Posted by LegallyYourDead at 2026-04-20 06:23 PM

Seems like a cynical ploy and not much more.

#2 | Posted by jpw at 2026-04-20 07:50 PM

@#2

Cynical? I'm not there yet.

But an admission that the prior business model they have proffered was not profitable?

Yeah, I can go with that.

So, if they seem to be such a admitted failure in business, what might that say about their future success?

Perhaps they will get lucky this time around ...

#3 | Posted by LampLighter at 2026-04-22 12:19 AM

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