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Stitch Fix Goes Public; Raises $120 Million

Stitch Fix Goes Public; Raises $120 Million
Credit: stitchfix.com

Online personal shopping company Stitch Fix issued its initial public offering raising $120 million. The company Fix priced 8 million shares at $15, below its indicated range of $18 and $20.

The fashion retailer blends expert styling, proprietary technology, and products to deliver a personalized shopping experience for customers. Users fill out the Stitch Fix Style Profile, and the company’s personal stylists handpick a “Fix” of five clothing items and accessories to meet the customer’s taste, budget and lifestyle. Users can buy the items they like and return the rest.

The company previously raised $42 million from investors including Benchmark and Baseline Ventures.