Thursday, April 15, 2021

Vizio relaunches its plan to go public

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Vizio rekindled his intention to go public more than five years after his first try during an IPO. The TV and soundbar maker has filed a filing with the U.S. Securities and Exchange Commission regarding its proposed initial public offering. According to Bloomberg, the company listed $ 100 million as the offering size, but that’s just a placeholder that could change. Vizio is expected to reveal the actual number and price of shares to be purchased in another repository at a later date.

The company first attempted to go public in 2015 with a dossier focusing on sales of its smart TVs. However, he withdrew his plans a year later. made a deal will be acquired by Chinese company LeEco for $ 2 billion. Vizio was to become a subsidiary of LeEco until their deal collapsed as a result of to fall out of favor – the manufacturer even sued LeEco, then plagued by financial problems, for the failure of the acquisition.

In its new filing, Vizio said it sold 7.1 million smart TVs in 2020, 20% more than it sold the year before. Its net income for 2020 is $ 102 million on sales of over $ 2 billion, more than four times its income of $ 23 million on sales of $ 1.8 billion at from 2019. Although it made most of its money from device sales, $ 147 million of its 2020 revenue came from its Platform + service consisting of its SmartCast operating system and its SmartCast business. Inscape visualization data.

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