The $4 Billion Tech-Shoe Collapse: How a Silicon Valley Darling Lost 99 Percent of Its Value

A one-time sensation is leaving the public markets as it’s scooped up for $39 million.

BY BRIAN CONTRERAS, STAFF WRITER @_B_CONTRERAS_

Gif: Inc.; Photos: Adobe Stock; Getty Images

Sneakerheads will pay hundreds of dollars for the right pair of kicks—but $39 million may be pushing it, even for them.

Not so for American Exchange Group, however. The portfolio company, which already owns........

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