Smart speaker maker Sonos has officially filed to go public.
The company, which confidentially filed for an IPO in April, could raise as much as $100 million in the offering. It could be valued at as much as $3 billion.
According to its regulatory filings, Sonos brought in revenue of over $1 billion in the 12 months ending in March. It posted a profit of $13.1 million in the first half of its fiscal year, slightly lower than the $15 million brought in the previous year. Over the last 12 months though, the company posted a loss of about $16 million.
Sonos, founded in 2002, has become a massive player in the home audio space, its products integrating with Amazon Alexa. But it's also got a lot of competition, from Amazon itself, as well as Apple, Google, and traditional speaker companies like Bose.
The company plans to list on the Nasdaq under the ticker "SONO."
The largest car search platform in India, Cardekho, recently raised $250 million in what the company calls a pre-IPO round led by leapfrog investments. The funding bumps CarDekho above unicorn status with a $1.2 billion valuation. The company currently has a catalogue of more than 3,000 pre-owned cars for online purchases and hopes to expand with the new funding. Partner and co-head of South Asian investment for LeapFrog Stewart Langdon joins Cheddar News' Closing Bell to discuss.
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Thuc Vu, CEO and co-founder of Ohmnilabs, joins 'Cheddar Innovates' to discuss how robots are playing a role in the return to the office, and what's in store for the future of the robotics industry.
Joan E. Solsman, a senior reporter at CNET, joined Cheddar's "Opening Bell" to talk about Netflix moving to offer mobile video games for Android users as part of their subscription. She said this is likely one "baby step" for the streaming giant as it moves into the space. "You can see what Netflix wants to do eventually down the line is have these great ambitions to make their service be more than just passive TV, movies," she said. "They're moving more into merchandising, that they're moving more into in-person experiences. They're trying to broaden a way, which is a great thing to do when everyone keeps talking about metaverses."
Tuna Amobi, Director and Senior Equity Analyst at CFRA Research, joined Wake Up With Cheddar to break down the big takeaways from Roku's Q3 earnings report, as the company warns of further supply chain issues in the coming months.
