Tuesday, 17 July, 2018

Wireless Speaker Maker Sonos Files for IPO

The Sonos family relies on big partners The Sonos family relies on big partners
Russell Knight | 08 July, 2018, 17:09

Then there's content. Right now, Sonos says, it has royalty-free agreements with streaming music providers like Apple Music, Spotify, and Pandora: it's presumably in those services' interest, after all, to broaden their audience as much as possible. "As such, it is possible that Amazon, which sells products that compete with ours, may on limited notice disable the integration, which would cause our Sonos One or Sonos Beam products to lose their voice-enabled functionality".

Sonos' commitment to excellent, easy to use, wireless, multi-room speaker systems has paid off, to some extent.

Sonos is preparing for an IPO, filing to go public with the SEC. In the potential risks section of its IPO filing, Sonos notes that the U.S. big-box retailer Best Buy accounted for 17% of its revenue for the first half of this year, and the ALSO Group-its distributor in Germany, Sweden, Denmark and Norway-accounted for 12%.

The company says it has registered over 19 million devices since it was founded in 2002. That works out to around 2.75 units per household, confirmation that people who purchase the company's speaker are likely to continue to build out their array with additional devices. Yet Sonos is relatively far from profitability. This was, however, an improvement on the previous year. Net loss shrank to US$14.22-million from US$38.21-million in 2016. In the six months ending in March, Sonos notched $655.7 million in revenue, an increase of 18 percent, or approximately $100 million over the same time a year ago. However, the company did set a placeholder amount of $100 million.

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The Santa Barbara, California-based company said https://bit.ly/2KEEilt it intends to list on the Nasdaq Global Select Market under the symbol "SONO".

In a piece published in Variety in early 2017, Sonos CEO stated that any new fundraiser public offering "may.be used to reward its nearly 1,500 employees".

Sonos has, certainly, persisted when rival companies have fallen by the wayside or been acquired. One of its stated goals?

In other words, in order to remain competitive in this market, Sonos may find itself investing in improving sound-quality, in varied retail partnerships, and in music streaming service, voice assistant and connected home integrator partnerships.

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