Stitch Fix files for IPO

Online personalized styling service Stitch Fix just announced that it has filled out a registration relating to a proposed initial public offering of its share. The offer has been filed with the U.S. Securities Exchange Commission (SEC) as of Thursday, October 19.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC will both act as managers for the offering. Barclays Capital Inc. and RBC Capital Markets, LLC will also act as book-running managers for the offering and Piper Jaffray & Co., Stifel, Nicolaus & Company, Incorporated and William Blair & Company, L.L.C. will serve as co-managers for the offering. Currently, details have not been disclosed as far as the number of shares to be offered and the price range for the offering. These details have not yet been determined according to a statement from the company. As part of this offering, Stitch Fix intends to list its Class A common stock on the NASDAQ under the ticker symbol "SFIX."

Stitch Fix was founded in 2011 by chief executive officer and founder Katrina Lake. The company employs over 5,800 employees over the U.S. As a growing online styling service, it seems that this new proposal shows overall growth for the company.