The Allbirds Wool Runners in white | |
| Type | Public |
|---|---|
| Nasdaq: BIRD (Class A) | |
| Industry | Footwear |
| Founded | 2016 |
| Founders |
|
| Headquarters | San Francisco, California, US |
Number of locations | 58 (2022) |
| Revenue |  US$298 million (2022) |
 US$−100 million (2022) | |
| US$−101 million (2022) | |
| Total assets | US$462 million (2022) |
| Total equity | US$317 million (2022) |
Number of employees | c. 1,000 (2022) |
| Website | allbirds |
| Footnotes / references [1] | |
Allbirds, Inc. is an American company that sells footwear and apparel.[2] The company claims to keep its products as eco-friendly as possible and is a certified B Corporation.[3][4] Allbirds uses a direct-to-consumer model in conjunction with distribution via select additional stores, selling its products through its website and retail stores in addition to select Nordstrom and Dick's Sporting Goods locations. [5][6]
Allbirds co-founder Tim Brown got the idea for the company while he was vice captain of the New Zealand football team.[7] He had previously attended business school and used to make leather shoes for friends but was aware of how uncomfortable they were.[8] In 2014, he received a research grant from the New Zealand wool industry to engineer a sneaker. He then launched his idea on Kickstarter, raising US$119,000 in five days.[9][2] After launching on Kickstarter, Brown teamed up with Joey Zwillinger, a biotech engineer and renewable materials expert. They began developing their process and officially launched Allbirds in March 2016.[10][9] The name Allbirds is a reference to New Zealand having almost no native land mammals. It is a land of "all birds".[11]
During their first year in business, the company raised US$7.25 million from investors including Maveron, Lerer Hippeau Ventures and other firms.[12][3] In December 2017, Allbirds sued Steve Madden, alleging that the company's Traveler shoes look nearly identical to its Wool Runners.[13]
As of 2017, the company had 50 employees in their headquarters in San Francisco, US; 40 employees at its warehouse in Nashville, US; and 350 contractors in a factory in South Korea.[8] In the end of 2017 the company launched in Australia.[14] In October 2018, the company raised US$50 million in Series C funding, bringing its total valuation to US$1.4 billion.[15] The company went public on the Nasdaq on 3 November 2021 under the ticker symbol BIRD.[16]
The company launched with one product, the Wool Runners casual sneakers.[17] The company has since expanded to offer other footwear, including running shoes and flip flops as well as apparel.[18][19]
Allbirds has collaborated with other brands to produce limited edition products, including Outdoor Voices and Nordstrom.[20][21] In May 2020, Allbirds announced a partnership with Adidas.[22]
