Sonos files for IPO, posts modest growth during first day’s trading

Sonos made its debut on the Nasdaq Stock Exchange today, and the wireless speaker company is reporting modest gains on its first day. Trading opened at $15 per share, lower than the anticipated $17-$18 range, and prices have risen about 20% through the day so far. If the price remains at this level, Sonos will raise $208.5 million at a valuation of nearly $1.5 billion.

In a very special nod to the company’s skills in audio engineering, Sonos spearheaded creating a new opening bell for the exchange. Sonos Sound Experience Lead Giles Martin and the company’s Academy Award-winning sound engineer Chris Jenkins collaborated with Nasdaq on the new bell, which is composed of more than 100 sounds. It is the first time the Nasdaq bell has been changed since 2000.