Following Spotify’s recent IPO , another Apple competitor is said to be planning a public offering. In a report this evening, Variety highlights a growing number of job listings seemingly indicating that speaker company Sonos is planning an IPO…
Among the new job listings is one for a corporate controller, a new position for the company. Sonos requires that applicants for this position have “current public company experience as a controller or assistance controller.”
Furthermore, Sonos requires that the applicant for the corporate controller position have “prior public accounting experience, preferably Big 4,” which in this case refers to the big four accounting firms KPMG, PWC, Deloitte, and Ernst & Young.
The description of the corporate controller’s job duties also mentions that the company is in the process of implementing SOX 404 compliance. This refers to section 404 of the Sarbanes – Oxley Act, which Congress passed in 2002 to protect investors of public companies through better disclosures.
Sonos is also searching for a new general counsel, again looking for public company experience. The company requests that applicants have experience as a general counsel of a “multi-billion dollar public company.”
Sonos, however, is staying silent on its alleged IPO intentions. In a statement, the company simply said that an IPO is something that “all tech companies think about.”
A Sonos spokesperson declined to comment on the job listings, telling Variety: “We like where our business is and an IPO is something all tech companies think about.”
In the past, Sonos CEO Patrick Spence hasn’t shot down the idea of Sonos going public. He said in a statement last year:
“We are considering whether an IPO would be the next best thing,” he said. “We are in a strong place, growing, profitable.”
It’s hard to know just how advanced Sonos’ IPO plans are at this point, based purely on job listings. The company has certainly built a reputation for itself as a pioneer of the smart speaker industry, but a slew of factors go into whether or not a company goes through the IPO process.