Dive Brief:
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Stitch Fix has filed for an initial public offering under a special “IPO on-ramp” provision under the 2012 Jumpstart Our Business Startups Act (also known as the JOBS Act), TechCrunch reports.
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The provisions allows the IPO review process with the Securities and Exchange Commission to remain confidential. A request to Stitch Fix from Retail Dive for more details or comment was not immediately returned.
- Stitch Fix Chief Operating Officer Julie Bornstein, who had been in the position for the past two years, quietly left the company in recent weeks to seek “a new challenge.” The apparel subscription company tapped Paul Yee, who has extensive experience at major brands, as CFO just last month.
Dive Insight:
Stitch Fix, in business for just five years, has garnered backing from venture capital firms Baseline Ventures, Benchmark, Lightspeed Venture Partners and Western Technology to the tune of $46.75 million in three rounds, most recently $30 million in 2014. The online personal styling space is pretty crowded, with rivals…