It’s ugly out there for consumer companies.
Sneaker company Allbirds, which raised over $300 million before its 2021 initial public offering, has seen its stock shed 98% of its value. Peloton has reportedly been entertaining private equity buyers, possibly to sell its at-home exercise business for parts. And, most recently, athleisure bull and former Outdoor Voices CEO Tyler Haney has pivoted her consumer marketplace business TYB into a massive multiplayer online role-play game.
