The total market valuation of Sonos at $19 a share would be $1.87 billion. Sonos was targeting a valuation of $2.5 billion to $3 billion in the IPO, people familiar with the matter said in April. The company — founded in 2002 — has been led by Patrick Spence since January 2017, and its products are in about 7 million households worldwide.

Source: Los Angeles Times July 23, 2018 19:18 UTC