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."
As demand grows for AI-free search results, TechCrunch Senior Reporter Rebecca Bellan joins us to discuss DuckDuckGo's no-AI option and what it reveals.
NYC just invested $100 million to turn a historic military base into a climate tech proving ground. We went inside the Brooklyn Army Terminal to find out why.
Meet Sprout, the $50K robot Amazon just acquired. It walks, talks and dances. And it's just the beginning of Big Tech's push to put humanoids in your home.
