After sale of its shoe business, Allbirds pivots to AI | TechCrunch
News Source : TechCrunch
News Summary
- Allbirds, the maker of the shoes once craved by the Silicon Valley tech set, is pivoting to AI.
- The company is also changing its name, since the footwear brand “Allbirds” was part of the sale.
- The rebranded AI company also announced a $50 million investment from an undisclosed institutional investor.
- This recalls the time in 2017 when the Long Island Iced Tea company pivoted to the blockchain, prompting the stock to jump some 275% after the rebranding.
After selling its shoe brand and assets last month for $39 million, Allbirds is pivoting to AI. Of course, the company is also changing its name, since the footwear brand Allbirds was part of the s [+1883 chars]
Never miss a story from us, subscribe to our newsletter