By Matthew Lynley and Katie Roof.
Stitch Fix has filed confidentially for an initial public offering, setting itself up for another big test for the IPO market in the near future, sources tell TechCrunch.
While we don’t know exactly when Stitch Fix will go public, we do know that a handful of companies are planning to go between Labor Day and Thanksgiving. Stitch Fix only recently hired its CFO, Paul Yee, in June — so it’s possible that they will push this a little further out. This marks the official beginning of the process ahead of the S-1 filing where the company will formally disclose its financials. Startups are allowed to file confidentially for IPOs under the JOBS act signed in 2012, allowing them to test the waters prior to formally releasing their company’s inner workings.
Stitch Fix will also mark one of the big tests for modern e-commerce startups and their viability as public companies. Stitch Fix gathers information about your personal style and delivers articles of clothing to your door, allowing you to pick which ones to buy and which to return. It’s an area that’s become increasingly populated with competition, the largest of which is possibly Amazon with its recent launch of Prime Wardrobe.
Read more at TechCrunch.