Sonos files for IPO with plans to raise $100 million

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Sonos has a range of speakers that come with Amazon's popular voice assistant, Alexa, built-in, including the Sonos One smart speaker and the Sonos Beam soundbar. The company named Bang & Olufsen A/S, Bose Corp. and Samsung Electronics Co. among its main rivals, alongside newer entrants Amazon.com Inc., Apple Inc. and Alphabet Inc.'s Google.

In a piece published in Variety in early 2017, Sonos CEO stated that any new fundraiser public offering "may.be used to reward its nearly 1,500 employees". In fiscal 2017, the company posted a net loss of $14.2 million on revenue of $992.5 million, down from a net loss of $38.2 million on $901.3 million of revenue in the previous financial year, according to the filing. High-end wireless speaker company Sonos has filed for an IPO as it continues to compete with rivals like Amazon's Echo and Google Home.

The company is on track to surpass $1 billion in sales this fiscal year after booking revenue of $655.7 million for the six months ending in March, according to a filing with the Securities and Exchange Commission on Friday.

Trump is convinced that he prevented a United States war with North Korea
Secretary of State Mike Pompeo will head for the Democratic People's Republic of Korea (DPRK) on July 5 for talks. In fact, the nuclear testing facility Trump claimed would be dismantled instead appears to be getting an upgrade.

Sonos will trade on the Nasdaq under the ticker symbol SONO. It set a placeholder amount of $100 million, but did not specify an offering price or size of the offering.

At the same time, Sonos said it plans to "deepen our relationships" with current partners, including Amazon, Google and Apple.

Also of interest is Sonos' estimate that customers listen to roughly 70 hours of content per month. The company recently introduced voice controls for its speakers through Amazon's Alexa technology, and it expects to incorporate Apple's Siri via Airplay 2 and Google Assistant in 2018. Today, its products are distributed in over 50 countries with 55 percent of its revenue coming from outside the U.S. Moreover, the company said consumers listen to approximately 80% more music after purchasing their first Sonos product. The filing doesn't detail how many shares they plan to sell in the offering. KKR initially invested $100 million in Sonos in 2012.

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