Sonos files for an IPO that may value the company at $3 billion
Smart speaker and audio company Sonos has confidentially filed paperwork with the Securities and Exchange Commission indicating it plans to hold an initial public offering as soon as this summer, according to a report today from The Wall Street Journal. The report says it’s likely Sonos would raise hundreds of millions of dollars in capital with an IPO, and that it’s market valuation may be around $2.5 to $3 billion as a result. The IPO could happen as soon as June.
Sonos has been around since 2002, when it became one of the first audio hardware companies to invest heavily in wireless speakers. Since then, Sonos has grown to be a massive player in the home audio space, earning more than $1 billion in annual revenue thanks to its...