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."
A Minnesota utility began shutting down a nuclear power plant near Minneapolis on Friday after discovering water containing a low level of radioactive material was leaking from a pipe for the second time. While the utility and health officials say it is not dangerous, the issue has prompted concerns among nearby residents and raised questions about aging pipelines.
Some parts of Twitter's source code — the fundamental computer code on which the social network runs — were leaked online, the social media company said in a legal filing that was first reported by The New York Times.
While data privacy still remains one of TikTok's biggest challenges, it may face a larger problem in order to stay in the United States: content moderation.
Governor Spencer Cox signed two measures restricting how easily children in the state can access platforms like TikTok and Twitter, setting the precedent in the U.S.
