Smart-TV maker Vizio Holding Corp., backed by affiliates of Taiwan-based Foxconn Technology Group, has filed again to go public, this time with a growing entertainment platform.
Vizio in its filing Monday listed the size of the offering as $100 million, a placeholder that will change. The number and proposed price for the shares to be offered by the company and selling stockholders will be disclosed in a filing later.
Vizio filed to go public in 2015 but withdrew that plan the following year after reaching an agreement to sell the company for $2 billion. Vizio terminated that deal with an affiliate of China-based Leshi Internet Information & Technology Corp. in 2017.
The Irvine company said it shipped 7.1 million smart TVs in 2020, a 20% increase over the previous year. Its devices are sold online, including at Amazon.com, and in stores such as Best Buy, Costco, Sam’s Club, Target and Walmart.
Vizio’s Platform+ service is composed of its SmartCast operating system and Inscape, which powers its data intelligence and services. It supports streaming apps and home smart speakers.
The company lost $102 million on revenue of more than $2 billion last year, according to its filing. Only $147 million of that revenue came from its entertainment platform, with the rest from device sales, the company said. Still, that compared with $36 million in platform revenue in 2018.
After the IPO, founder and Chief Executive William Wang will continue to control the company, Vizio said. More than 25% of Vizio’s Class A shares are held by Foxconn affiliates, according to the filing.
The offering is being led by JPMorgan Chase & Co. and Bank of America Corp. Vizio plans for its shares to trade on the New York Stock Exchange under the symbol VZIO.
Bloomberg writer Crystal Tse contributed to this report.
"again" - Google News
March 02, 2021 at 07:10AM
https://ift.tt/3uMQTpW
Irvine TV maker Vizio files again for IPO after 2015 try - Los Angeles Times
"again" - Google News
https://ift.tt/2YsuQr6
https://ift.tt/2KUD1V2
Bagikan Berita Ini
0 Response to "Irvine TV maker Vizio files again for IPO after 2015 try - Los Angeles Times"
Post a Comment