A Stitch Fix IPO is on the way from the fashion subscription company.
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Here are a few things to know about the Stitch Fix IPO and the company.
- The company hasn’t said how much its expects to raise from the IPO.
- However, it does note that it expects the IPO to value it somewhere between $3 billion and $4 billion.
- It reported sales of $977.1 million in fiscal 2017, which was up from $730.3 million in the previous year.
- Despite this, the company earnings in fiscal 2017 dropped from $73 million in fiscal 2016 to $61 million.
- The company was founded by Katrina Lake, a graduate of Harvard Business School, in 2011.
- It offers subscription boxes to customers on a monthly basis.
- The company uses the preferences of its customers to select what items to send them every month.
- Items sent includes five pieces of clothing and accessories.
- Customers are able to return items they don’t want and buy the rest for a discount.
- Since its founding in 2011, Stitch Fix has only raised $42.5 million in venture financing.
- Lake owns roughly 17% of the company.
- Other owners of Stitch Fix include Baseline Ventures with a 28% stake, Benchmark Capital with a 26% stake and Lightspeed Venture Partners with a 12% stake.
- Goldman Sachs Group Inc (NYSE:GS) will be leading the Stitch Fix IPO.
- The company is planning to trade on the NASDAQ under the “SFIX” ticker once its IPO is complete.
You can follow these links to learn more about the upcoming Stitch Fix IPO.
As of this writing, William White did not hold a position in any of the aforementioned securities.
