What happened to Allbirds?

AllBirds Inc. was valued at $4 billion less than five years ago. Now, it will be sold for just $39 million. 

The shoe company on Monday announced a definitive agreement with American Exchange Group (AXNY), which involves selling all of its intellectual property, assets, and liabilities.

Privately held AXNY owns a number of brands, including Aerosoles, Ed Hardy, and Jonathan Adler. 

“We are incredibly thankful to our teams for the work they have been doing to fuel our product engine...