Popular DTC Brand Allbirds, once valued at $4B, just sold their shoes business for $39M and pivoted to GPU provider for AI companies. Here's the full story: Founder Tim Brown began his shoe project as early as 2007 in New Zealand and partnered with co-founder Joey Zwillinger in 2014. The company officially launched with the Wool Runner sneaker in March 2016 as a shoe designed for comfort. They had a hypergrowth trajectory, raised $200M before going public at $4B in valuation. Between 2021 and 2025, as the margins dropped, sales declined and DTC hype faded, their valuation DROPPED by 99.6% to $25M. They have sold the shoe business for $39M to another company. The founders are now pivoting the company to an AI Compute infrastructure company. And they have already raised ~$50M. Curious to see how the journey goes!… more