The New Stuff

noimage

Television-Maker Vizio Files For IPO


Vizio Inc., maker of cheap TV sets and other electronics, filed a prospectus Friday with U.S. regulators to raise up to $172.5 million in an initial public offering of Class A common stock.

BofA Merrill Lynch, Deutsche Bank Securities and Citigroup were listed as underwriters for the offering. The firm did not disclose in the documents how many shares would be made available or which market it would list on.

Vizio, which was founded in 2002, has made a name for itself selling inexpensive consumer electronics, including smart televisions and home audio products. In its prospectus Vizio boasted that it has sold over 65 million consumer electronics products and has streamed over three billion hours of entertainment content through its devices.

In its S-1 filing, Vizio went on to further list its financials and position in the industry:

Our products are sold in over 8,000 retail stores across the United States. We held the #1 unit share position in the U.S. sound bar industry(1) and the #2 unit share position in the U.S. Smart high definition, or HDTV, industry in 2014.(2) For the years ended December 31, 2013 and 2014 and the six months ended June 30, 2015, we generated net sales of $3.0 billion, $3.1 billion and $1.3 billion and reported net income of $25.7 million, $45.0 million and $31.4 million, respectively. Substantially all of these amounts were generated from the sale of televisions and sound bars.

The Irvine, Calif. company says it will list its Class A common stock under the ticker “VZIO.”

Post from TechCrunch at

Recently Published

p1040464-0310f8849c79576d01364c3e75e7d4b7f09aba79
»

Brazilian judge denies WhatsApp’s appeal against 72-hour block

A Brazilian judge has denied an injunction against a countrywide ...

connect-0ff5018cafb97cd002a709a09b8221088d46910a
»

Twitter’s new ‘Connect’ tab shows you who to follow

Twitter announced this morning a new feature designed to make it ...

seattle-meetup-be7f2711a5dff4b5cda46df782cf50601a8a6c14
»

TechCrunch is coming to Austin and Seattle in June

It’s that time again. TechCrunch is headed to Austin and ...

me-c356761ab1600c50e0ed9bc34899da2022442d04
»

Thrilling GoPro BMX ride takes you through Los Angeles, with celebrity sneak peeks

You've never seen Los Angeles like this.  Pro BMX rider Nigel ...

da4d2c1836d24355ab28ea34e9b3026a-11929683e9ac70002a5e3c9dceef86dfbe6d228c
»

How the White House plans to bring smart guns to law enforcement

The Obama administration released a multi-part plan late last week ...

h_51360361-fba7ec5c5157a85638265af42b6cdfe811f52bbf
»

Europe is really angry at Eurovision's leaked flag-waving guidelines

LONDON — A document accidentally leaked online specifying ...

lightbulb-f20eeabda8ec5acff6a46e7636fd0d469c572a09
»

We learned from utilities everything we need to know about cloud infrastructure

Electricity is ambient. It’s all around us. We turn on lights ...

virgil-twilio-12f7f5fecff52814d1ae920056ad16ebd9e22a96
»

Adding end-to-end encrypted messaging to your app just got a lot easier

Setting up encrypted communication by yourself is hard. If ...

Screen_Shot_2016-05-02_at_5.58.14_PM-3edb932c9485b90e4e4fbdc00249bf429bea6f97
»

Giphy Keys is a GIF keyboard app done right

When Apple announced iOS 8 back in June of 2014, the addition of ...