Sonos IPO Filing Turns Up The Volume In Hot Market For Smart Speakers
Summary
Sonos, a maker of high-end wireless speakers for the home, filed for an initial public offering Friday in a move that is expected to further stimulate an already booming market.The Sonos IPO filing did not specify the amount of shares to be offered or price, but is expected to draw attention.The smart-speaker market remains in the early stages, pioneered by Amazon.com ( AMZN ) with its Echo line of smart speakers voiced by Alexa."The proliferation of streaming services and the rapid adoption of voice assistants are significantly changing audio consumption habits and how consumers interact with the internet," according to the Sonos IPO prospectus .Sonos says it has about 100 streaming content providers, such as Apple Music, Pandora ( P ), Spotify ( SPOT ) and Google Home.