Friday, May 4, 2018

Sonos Aiming At IPO In June

Santa Barbara-based Sonos--which reportedly has filed for a confidential IPO with the SEC--expects to have its IPO in June, according to multiple reports, meaning that the IPO paperwork for the company should be made available soon to the public. The IPO would reportedly value Sonos at between $2.5 billion and $3.0 billion. Companies like Sonos have recently been using "confidential IPO" filings in order to shake out issues in their IPO paperwork with the SEC, before making those filings available about 15 days before they go on their IPO "road show". Startups use that confidential "draft" to receive feedback and review from the SEC before their actual S-1 filing for potential investors. Sonos is a maker of easy to use, whole home music systems and speakers, which connect easily to online streaming services and smartphones and tablets.