May be in the works.
http://variety.com/2018/digital/news/sonos-ipo-plans-1202745164/
Sonos IPO?
This topic has been closed for further comments. You can use the search bar to find a similar topic, or create a new one by clicking Create Topic at the top of the page.
Page 1 / 2
Without baseless assumptions, this place would have about 1/10th the traffic it has now.
Userlevel 7
+26
Thanks for the concern 🙂 So far so good. Someone has to bring announcements to the board.
I thought we were all going to be replaced by robots?
We could all be bots already, just really sophisticated ones.
Yes, but the valuation will include the now proved to be enforceable IP asset, so Denon will still have to pay for it. And from a global distribution and service support standpoint, it won't automatically be a bad thing.
Userlevel 7
+21
Saw that the other day also... should be interesting, for sure. More info about the business side of the company will finally be available to the masses.
So Sonos goes public, Denon immediately buys enough shares to get a controlling interest and all of the lawsuit stuff goes away. Not that such a thing couldn't have happened privately also... it just would have been harder and definitely less visible.
Would it be harder before an IPO when there are just a few owners to deal with and a lot less regulatory oversight? I suspect not, based on my Indian experience, but I don't know about the US.
On the acquisition subject, Denon may be a better owner to keep things moving forward compared to Apple/Amazon/Google who may well do this to eliminate competition for their hardware as well as services.
On the acquisition subject, Denon may be a better owner to keep things moving forward compared to Apple/Amazon/Google who may well do this to eliminate competition for their hardware as well as services.
It's happening
https://www.marketwatch.com/story/smart-home-audio-company-sonos-files-to-go-public-2018-07-06
https://www.marketwatch.com/story/smart-home-audio-company-sonos-files-to-go-public-2018-07-06
Sonos Inc., the smart home sound system company, filed Friday to go public. The company has applied to be listed on the Nasdaq Global Select Market under the ticker symbol "SONO." The company said it plans to raise up to $100 million in the initial public offering, but that amount was estimated as a placeholder amount. The company reported a net loss of $14.2 million in fiscal 2017, which ended Sept. 30, 2017, compared with a loss of $38.2 million in fiscal 2016 and a loss of $68.8 million in 2015. Revenue increased to $992.5 million in fiscal 2017 from $901.3 million in 2016, and from $843.5 million in 2015. The lead underwriters of the IPO are Morgan Stanely, Goldmans Sachs and Allen & Co. The company is looking to go public at a time that the Renaissance IPO ETF IPO, +0.40% has gained 6.3% over the past three months and the S&P 500 SPX, +0.69% has tacked on 5.1%.
Which also means we have benefited from great deals on the pricing front!
The loss trend certainly seems to be going the right way but quite a shock nonetheless.
Yes I agree, the losses are really surprising, I had read some opinions on here and elsewhere about how they have more than a billion in revenue (not in the last three years) and that they are highly profitable (not the last three years). But as you say things are going in the right direction.
Another really interesting point from the disclosure is that Amazon can pull the plug on Alexa with little notice and Amazon could charge a fee for access
https://www.engadget.com/2018/07/06/sonos-ipo-public-filing-amazon-alexa-challenge/
I think it will be Logitech. They are going to do a squeeze play on the stock as soon as it goes public.
Userlevel 7
+17
Got to feel sorry for the 96 people forced out, probably loyal, hard working, long service, so that sonos top dogs can get a better price for a company they have been running at losses for past 3 years. Should the finance director not be first in line?
Lol. And a good search function, if correctly used, would bring that 10% down by half.
Userlevel 7
+26
Thanks for the concern 🙂 So far so good. Someone has to bring announcements to the board.
Thanks for the concern 🙂 So far so good. Someone has to bring announcements to the board.
I thought we were all going to be replaced by robots?
Thanks for the concern 🙂 So far so good. Someone has to bring announcements to the board.
I thought we were all going to be replaced by robots?
We could all be bots already, just really sophisticated ones.
I think Ryan is passing the Turing test quite nicely!
So Sonos goes public, Denon immediately buys enough shares to get a controlling interest and all of the lawsuit stuff goes away.
And I guess the good support will all but disappear?
From the Verge:
Sonos files for an IPO that may value the company at $3 billion
It could happen as soon as June
https://www.theverge.com/2018/4/25/17282522/sonos-ipo-initial-public-offering-sec-filing-june-2018
Sonos files for an IPO that may value the company at $3 billion
It could happen as soon as June
https://www.theverge.com/2018/4/25/17282522/sonos-ipo-initial-public-offering-sec-filing-june-2018
Speaker Maker Sonos Cuts 6% of Workers Ahead of Public Offering
https://www.bloomberg.com/news/articles/2018-05-18/speaker-maker-sonos-cuts-6-of-workers-ahead-of-public-offering
https://www.bloomberg.com/news/articles/2018-05-18/speaker-maker-sonos-cuts-6-of-workers-ahead-of-public-offering
Wow, they're some losses and for some years too. Appears Sonos have been nowhere near the profitable company many have been completely assuming they were - especially when comparing them to other companies who haven't made a profit for years too.
The loss trend certainly seems to be going the right way but quite a shock nonetheless.
The loss trend certainly seems to be going the right way but quite a shock nonetheless.
Frequently, in the tech world, it's about potential, rather than current operations.
14m in losses are relatively small all things considered.
I'm curious. Are there any definite hints that Denon is planning a takeover once Sonos goes public or is it pure speculation at this point?
I think it will be Logitech.
Yikes! That's a scary thought. They'll destroy Sonos.
Userlevel 7
+21
I think it will be Logitech. They are going to do a squeeze play on the stock as soon as it goes public.
If they do, I'm out as soon as it happens. Logitech has already tried this when they acquired Slim Devices (aka Squeezebox). You see where they are now. I don't think enough of Logitech's product development culture has changed over the years to allow Sonos to continue being successful if Logitech picks them up.
BTW, Denon is owned by a private equity firm now, Sound United, a division of DEI Holdings. That deal apparently happened March 1 last year. So it seems weird that Sonos would be going public, just to be bought by a private equity firm. BTW, this private equity firm also has hands into Boston Acoustics and Polk Audio. Unless they're looking to build an audio powerhouse to compete against the likes of Bose (Boston/Polk/Sonos audio engineers/speaker design, D&M home theater products, and Sonos smart speaker tech)...
Page 1 / 2
Enter your username or e-mail address. We'll send you an e-mail with instructions to reset your password.