Sonos goes public, Kumbaya adds to board, Boring Co. engineers aid Thailand
Engineering specialists from Hawthorne companies Space Exploration Technologies Corp (SpaceX) and The Boring Company are being dispatched by Elon Musk, founder of both companies, to assist in rescue efforts of 12 boys and their soccer coach stuck in a cave in north Thailand, Techcrunch reports. Musk reported negotiations with Thai government officials late Thursday night and a spokesman for the Boring Company confirmed the dispatch June 7. The announcement comes after a Thai Navy Seal perished yesterday attempting the six-hour cave dive to rescue the team.
Santa Barbara’s Sonos Inc. has filed for an IPO, according to CNBC Tech. The smart-home speaker company seeks to raise up to $100m on the Nasdaq global market, according to a filing on July 6. Morgan Stanley, Allen and Co., and Goldman Sachs and Co. participated in the underwriting. During its most recent fiscal year, Sonos posted net losses of $14.2 million and $992.5 in total revenue. The ticker symbol for Sonos will be “SONO,” though the company hasn’t specified how many shares will be available, or an estimated offer price.
Kumbaya, a Rancho Palos Verdes startup dedicated to inventing a solar-powered device that can power off-grid locations, named Kay Ellen Consolver to its board on July 5. Socaltech reports Consolver worked as an Exxon Mobil Corp. for two decades prior to her addition to Kumbaya’s board. The company targets refugee camps, third-world countries, and disaster sites to bring them internet, LTE, or 3G connectivity capabilities.