A StitchFix IPO may be happening in the near future.
- The company has filed for an IPO under a special “IPO on-ramp” provision that falls under the 2012 Jumpstart Our Business Startups Act (JOBS Act). The provisions give the company the option of going through its review process with the Securities and Exchange Commission in a confidential manner.
- StitchFix is reportedly looking for a valuation in the $3 billion to $ =4 billion range.
- Katrina Lake is the company’s CEO, and she will be one of the few women to lead a company as it goes public. Only 3% of companies to IPO between 1996 and 2014 were led by women.
- StitchFix announced revenue of $730 million in fiscal 2016.
- The company has had some recent moves lately as COO Julie Bornstein left the company last month, while CFO Paul Yee joined its ranks last month.
- StitchFix has been around for five years, and it consists of sending consumers boxes of clothing based on their beauty style. Subscribers then try on the clothes, keep what they like and send back what they don’t need. StitchFix recently rolled out a men’s business.
This isn’t the only company of its kind to consider going public at the moment as Rent the Runway may be making a similar move soon.