History of Allbirds in Timeline

Allbirds is an American public benefit corporation founded in 2015 by Tim Brown and Joey Zwillinger. Headquartered in San Francisco, the company is known for its minimalist footwear and apparel designs, its association with environmental, social, and governance (ESG) principles, and its popularity in Silicon Valley. Allbirds primarily operates through a direct-to-consumer business model via its website and physical stores, though it began reducing its brick and mortar presence in 2023.

2014: Kickstarter Launch

In 2014, Tim Brown launched his idea on Kickstarter, raising $119,000 in five days after securing a grant from New Zealand's wool industry.

2015: Allbirds Co-founded

In 2015, Allbirds was co-founded by Tim Brown and Joey Zwillinger. The company is known for its minimalist designs and focus on environmental, social, and governance principles.

2015: Partnership with Joey Zwillinger

In 2015, after the Kickstarter launch, Tim Brown began working with Joey Zwillinger.

March 2016: Launch of Wool Runner

In March 2016, Allbirds launched its Wool Runner.

2016: Funding Rounds

From 2016, Allbirds raised over $200M in funding rounds alone.

December 2017: Lawsuit Against Steve Madden

In December 2017, Allbirds sued Steve Madden, alleging that the company's Traveler shoes looked nearly identical to its Wool Runners and infringed Allbirds' trade dress.

2017: Expansion Across the United States and into South Korea and Australia

By the end of 2017, Allbirds expanded across the United States and into South Korea and Australia.

2017: Brick-and-Mortar Stores in the United States

In 2017, Allbirds began operating brick-and-mortar stores in the United States.

October 2018: Series C Funding

In October 2018, Allbirds raised $50M in Series C funding, bringing the company's total valuation to $1.4B.

October 17, 2018: First Store in the United Kingdom

On October 17, 2018, Allbirds opened its first store in the United Kingdom, in London's Covent Garden.

2018: Praised by Time

In 2018, Allbirds was praised by Time as one of the best inventions for its carbon reduction.

2018: Shoes manufactured in Shenzhen, China

In 2018, Allbirds' shoes were manufactured in Shenzhen, China.

2018: Allbirds gifted to Australian Prime Minister and investment from Leonardo DiCaprio

In 2018, New Zealand Prime Minister Jacinda Ardern gifted a pair of Allbirds sneakers to Australian Prime Minister Malcolm Turnbull during an official visit to Australia. Also in 2018, actor Leonardo DiCaprio invested in the company's Zeffers sandals.

November 2019: Accusation Against Amazon

In November 2019, Joey Zwillinger accused Amazon's shoe line, 206 Collective, of producing a look-alike of the Wool Runner design for $60 less.

2019: Barack Obama wears Allbirds

In 2019, former United States President Barack Obama was reported to have worn Allbirds shoes at a basketball game, marking another occasion where he was seen wearing the brand.

2020: Competition from Other Brands

As early as 2020, brands like Atoms and Veja were claimed to be taking some of Allbirds' market share.

2020: Series E Funding and Retail Stores Worldwide

By 2020, Allbirds had raised $100M in Series E funding and had 21 retail stores worldwide.

2020: Criticism of B Corp Status by U.S. Congressman Jared Huffman

In 2020, Democratic U.S. Congressman Jared Huffman of California criticized Allbirds' B Corp status and the 45Q tax credit during a conference with Zwillinger, arguing that they were functionally ineffective.

2020: GQ Criticizes Obama's "Zoom Formal" Allbirds

In 2020, after Obama wore Allbirds shoes at a podcast recording, Cam Wolf wrote an article for GQ criticizing the shoes as "Zoom Formal" and drew a parallel between Obama and his cabinet to Silicon Valley.

November 3, 2021: Allbirds Goes Public

On November 3, 2021, Allbirds went public but soon experienced poor sales.

2021: Dwyer v. Allbirds, Inc. Lawsuit

In 2021, Allbirds faced a federal lawsuit, Dwyer v. Allbirds, Inc., accusing the company of misleading consumers about its sustainability practices by omitting the carbon impact of its wool sourcing and using images of happy sheep in promotional materials. The lawsuit also cited concerns of cruelty towards sheep based on an investigation by People for the Ethical Treatment of Animals.

2021: Collaborations

Through 2021, Allbirds coordinated further collaborations with Adidas and independent designers such as Nicole McLaughlin.

2021: Funding Rounds

Until 2021, Allbirds raised over $200M in funding rounds alone.

June 2022: Sales at Nordstrom and Dick's Sporting Goods

Between April and June 2022, Allbirds began to sell its products at big-box, brick and mortar Nordstrom and Dick's Sporting Goods stores to recover from the loss in sales and investor confidence.

2022: Decline in Annual Sales

According to a GlobalData consumer panel, the company began a decline in annual sales by 2022 as its brand was seen as part of 2010s Silicon Valley attire.

2022: Net-Revenue Decrease

By the fourth quarter of 2023, Allbirds had a net-revenue decrease of 14.5 percent since the fourth quarter of 2022.

2022: Dismissal of Dwyer v. Allbirds, Inc. Lawsuit

In 2022, Judge Cathy Seibel dismissed the Dwyer v. Allbirds, Inc. case against Allbirds, stating that the company adhered to the Federal Trade Commission's guidelines for environmental marketing claims and that the depiction of happy sheep in advertising was considered puffery.

2022: Reviews of Tree Dasher 2

In 2022, Runner's World's Jeff Dengate wrote reviews of the Tree Dasher 2.

April 24, 2023: Annie Mitchell Succeeds Mike Bufano

On April 24, 2023, Annie Mitchell succeeded Mike Bufano as chief financial officer.

May 2023: Shareholder Lawsuit

In May 2023, Allbirds was sued by its shareholders amidst declining sales, alleging misleading strategy and securities fraud.

2023: Decrease in Brick and Mortar Presence

By 2023, Allbirds had begun to decrease its brick and mortar presence.

2023: Net-Revenue Decrease

By the fourth quarter of 2023, Allbirds had a net-revenue decrease of 14.5 percent since the fourth quarter of 2022.

2023: Reviews of Tree Flyer

In 2023, Runner's World's Jeff Dengate wrote reviews of the Tree Flyer.

March 12, 2024: Joe Vernachio Replaces Joey Zwillinger as CEO

On March 12, 2024, Joey Zwillinger was replaced by former Allbirds chief operating officer Joe Vernachio as CEO, with Zwillinger remaining on the board of directors.

April 8, 2024: Nasdaq Non-Compliance Notice

On April 8, 2024, Allbirds received a non-compliance notice from Nasdaq for performing below $1 for over 30 consecutive days.

May 2024: Lawsuit Dismissal

In May 2024, Judge Araceli Martínez-Olguín dismissed the shareholder lawsuit against Allbirds without prejudice.

September 4, 2024: Reverse Stock Split

Allbirds underwent a 1-for-20 consolidation on September 4, 2024; its stock price was $9.69 the next day and $13.79 after a week.

2025: Projected Decrease in Net Revenue

Allbirds also projected a decrease in net revenue from $165 million–$180 million to $161 million–$165 million for 2025.

January 28, 2026: Closure of Full-Price Stores in the United States

On January 28, 2026, Allbirds announced it would close all full-price stores in the United States by the end of February 2026, maintaining only 4 stores across the United States and the United Kingdom.

February 2026: Closure of Full-Price Stores in the United States

By the end of February 2026, Allbirds announced it would close all full-price stores in the United States, maintaining only 4 stores across the United States and the United Kingdom.

March 30, 2026: Sale of Assets and Liabilities to American Exchange Group

On March 30, 2026, Allbirds announced it would sell its assets and liabilities to American Exchange Group.

April 15, 2026: Pivot to Cloud Infrastructure and Renaming to "NewBird AI"

On April 15, 2026, Allbirds announced that the company was pivoting to providing cloud infrastructure for artificial intelligence, and was renaming itself to "NewBird AI".