Allbirds sells IP to American Exchange Group and WSG Brands, rebrands as Smartbird
Footwear company Allbirds sold its brand and intellectual property for $39 million to AEG and WSG Brands before rebranding as Smartbird. The firm is shifting focus from retail footwear to AI infrastructure services while expanding a convertible financing facility up to $100 million.
Topics: AI infrastructure Brand licensing Corporate restructuring IP transfer