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Stitchfix's IPO was really impressive. Who even uses the service?
| Beady-eyed out-of-control roast beef macaca | 11/18/17 |
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Date: November 18th, 2017 8:20 AM Author: Beady-eyed out-of-control roast beef macaca Though it started off with a bang, shares of consumer tech company Stitch Fix closed its first day trading as a public company with a barely a blip.
The online personal stylist’s stock, which traded as high as $18.53 during the day, closed at $15.15 on Friday, just 1% above its already-downsized initial public offering price or $15. That gave the company valued at about $275 million as a private company a market capitalization of about $1.46 billion.
Stitch Fix’s IPO reportedly already raised some eyebrows on the roadshow, with some investors wondering about the long-term prospects of a company sitting in the path of Amazon. The e-commerce giant has been testing a service dubbed Prime Wardrobe.
Despite the speculations about the firm’s future viability though, its IPO already represents gains in other areas.
Thirty-four-year-old Lake is the first female CEO to take a tech company public this year. She helms a management team split 50-50 by gender, according to its IPO filing. Of Stitch Fix’s seven seat board of directors, three are women. That’s 43% against the near 28% of female board appointments in 2016.
http://fortune.com/2017/11/17/stitch-fix-ipo-stock-price-katrina-lake-net-worth/ |