The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: From $4.1BN to $142M Market Cap; Why Public Markets Have Written Allbirds Off, What Allbirds Need to Do to Get Profitable, Why Growth has Slowed and The Bull Case for Allbirds Next Five Years with Joey Zwillinger, Co-Founder @ Allbirds

Nov 6, 2023

Joey Zwillinger, Co-Founder and CEO of Allbirds, shares the intriguing story behind the brand's founding and his unique path from biotechnology to sustainable footwear. The conversation dives into the dramatic decline in Allbirds' market cap since going public, exploring strategic missteps and questions surrounding profitability. Joey discusses competitive challenges from brands like On and Hoka, and reflects on the lessons learned during this rollercoaster journey. His insights on navigating market dynamics and personal experiences round out a compelling narrative.

44:51

Creator website

Episode guests

Joey Zwillinger

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Allbirds has experienced a significant decrease in market cap due to declining revenues and changing consumer preferences.

Allbirds aims to strengthen consumer loyalty by offering unique, sustainable products and expanding into new product categories.

Deep dives

The Challenges Faced by Allbirds

Allbirds, a once highly valued brand, has experienced a significant decrease in market cap due to various factors, including declining revenues and the changing preferences of consumers. The company, founded by Tim Brown and Joey Zwillinger, initially gained attention for its innovative approach to footwear, focusing on comfort, sustainability, and sleek design. However, the pandemic and shifting consumer trends have posed challenges, leading to decreased sales and a need to reposition the brand. Despite the setbacks, Allbirds remains confident in its brand strength, committed to regaining market relevance, and capitalizing on future opportunities.

Leadership, Discipline, and Resilience in Challenging Times

01:38

Intro

3min

Navigating Market Challenges: Allbirds' Journey

14min

Fundraising Strategies and Market Dynamics

11min

Navigating Personal and Professional Balance Amidst Increased Stress

3min

Navigating Challenges in Luxury Retail

7min

Reflections on Allbirds' Journey and Business Insights

4min

Joey Zwillinger is the Co-Founder & CEO @ Allbirds, the company behind the world's most comfortable shoe. In Nov 2021, Joey took the company public and the stock soared to an all-time high of $4BN, today the company has a market cap of $137M. Prior to Allbirds, Joey spent six years at biotechnology firm, Terravia, leading its renewable chemical business, developing and selling high-performance algae-based chemicals into various industries such as CPG, personal care, and industrials.

In Today's Episode with Joey Zwillinger We Discuss:

The Founding Moment:

How did Joey's wife's friendship lead to the co-founding of Allbirds?
What does Joey know now that he wishes he had known at the founding moment?
What does Joey believe he is running away from? What is he running towards?

2. Public Market Performance Review:

Why has Allbirds lost 97% of it's value since going public? What mistakes were made?
Why has revenue declined for the first time this year?
What strategic investments have Allbirds pulled back on or paused entirely?
When will Allbirds be profitable?

3. The Competition:

How do Allbirds compete and catch up with On and Hoka?
What strategic mistakes did Allbirds make in COVID that allowed others to take the crown?
Was the movement into running and athletics a mistake for Allbirds?

4. Joey Zwillinger: The Leader and Person:

Did Joey take secondaries out during the Allbirds journey?
How does Joey reflect on his own relationship to money?
How has Joey dealt with the last 12 months personally? How does he manage the stress effectively?

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more