Smart speaker maker Sonos has filed to go public. In the filing, the company says it\u2019s aiming to raise up to $100 million in the IPO. However, that number may simply be a placeholder, or it could change as the IPO approaches. Sonos says that as of March 31, it\u2019s sold a total of 19 [&hel\u2026<\/b>
\nSmart speaker maker Sonos has filed to go public.
In the filing, the company says it\u2019s aiming to raise up to $100 million in the IPO. However, that number may simply be a placeholder, or it could change as the IPO approaches.
Sonos says that as of March 31, it\u2019s sold a total of 19 million products to 6.9 million households, with customers listening to 70 hours of content each month.
Revenue is growing \u2014 in the six months ending on March 31, the company brought in $655.7 million, up 18 percent year-over-year. In its most recent full fiscal year (2017), it brought in $992.5 million in revenue, an increase of 10 percent from 2016, while its net loss shrank from $30.9 million to $15.6 million.
Looking at the broader landscape, Sonos emphasizes its role as an independent player that can work with music streaming services like Apple Music, Pandora, Spotify and TuneIn.
It also points to the opportunity presented by growing interest in voice assistants \u2014 Sonos released its first voice-enabled speaker, the Sonos One, last year, but rather than building its own assistant, it integrates with Amazon Alexa and has plans to add support for Apple\u2019s Siri (via Airplay 2) and Google Home this year.
\u201cOur system is not \u2014 and never will be \u2014 an entry gate into a walled garden,\u201d writes CEO Patrick Spence. \u201cWe\u2019re deeply committed to keeping Sonos open to every voice assistant, streaming service and company that wants to build on our platform. This approach is unique in our industry, and it requires substantial investment and long-term thinking.\u201d
In terms of risk factors, the company points to its history of losses, the unpredictability of its revenue growth and the fact that it operates in \u201chighly competitive markets\u201d and is \u201cdependent on partners who offer products that compete with our own.\u201d<\/p>\n

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Similarity rank: 2.1<\/div>\n

Sentiment rank: 0.8<\/div>\n

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