Thursday in CE: Sonos Files IPO, Pegs Company at $3 Billion Valuation
Consumer-facing sweetheart and wireless speaker pioneers Sonos has completed the paperwork with the Securities and Exchange Commission, revealing their hand to an initial public offering as soon as June. The report from Wall Street Journal explains that Sonos will raise hundreds of millions of dollars in capital, pushing Sonos to a $2.5 to $3 billion valuation.
For all intents and purposes, the filing has been very confidential and people close to the matter are remaining anonymous. Those sources are claiming that Morgan Stanley and Goldman Sachs are likely to lead the offering.
Sonos has had a few different paradigm shifts since their launch in 2002, and most of them have been for the better. They are a certifiable force to be reckoned with and have given Apple, Google, and Amazon a run for their money in the wireless space. A lot of that comes from their voice control agnosticism, giving consumers the choice to pick their digital assistant, and simply providing a premium level audio experience. Underscored by a dedication to the custom integration channel, Sonos is showing a lot of promise on both sides the industry.