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From IPO To CEO, Here Are 6 Things To Know About Stitch Fix

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From IPO To CEO, Here Are 6 Things To Know About Stitch Fix
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Stitch Fix Inc (NASDAQ: SFIX) traded up 13 percent off Friday’s initial public offering price — one of this year’s few market initiates to live up to its hype.

Here are six more facts about the e-commerce startup.

1. Girl Power

CEO and founder Katrina Lake is the first woman to lead a tech company into the markets this year and one of just 8 percent women behind 2017’s entire IPO class.

2. Lake’s Leadership

At 34 years old, Lake ranked No. 22 on Fortune’s 2017 40 Under 40 List. The Stanford and Harvard graduate is also on the board of GrubHub Inc (NYSE: GRUB).

3. Startup Success

With a total $42.5 million in equity raised since its founding, the six-year-old company began generating positive cash flow in its first three years and reported nearly $1 billion in revenue in 2017. Stitch Fix posted income in both 2015 and 2016 but followed with a net loss in 2017.

4. Portfolio Expansion

The IPO isn’t Stitch Fix’s only change this year. The company broadened its product offering to include clothes for plus-size women and men.

5. About The Money

With the IPO priced at $15 per share, Stitch Fix opened at $16.90. However, it has since waned to $15.07. The firm was expected to find valuation between $3 billion and $4 billion.

6. By The Numbers

As of its S1 filing, the firm reported nearly 2.2 million active clients supported by more than 3,400 employees and five national fulfillment centers.

Revenue averaged $367 per client in the first half of 2017, up from $335 in 2016, and growth in items purchased has accelerated. Against a 2014 baseline, 2015 saw 9-percent growth, 2016 saw 12 percent, and 2017 saw 22 percent.

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Posted-In: Katrina Lake Stitch FixNews IPOs Top Stories Trading Ideas Best of Benzinga

 

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