Soho House Targets $3.2 Billion USD Valuation Ahead of New York Public Listing
Planning to raise as much as $480 million USD through its IPO listing.
The parent company of private members club Soho House is eyeing a valuation of $3.21 billion USD ahead of its U.S. initial public offering.
The 26-year-old club is filed under the parent company, Membership Collective Group Inc. (MCG). MCG is planning on selling 30 million shares of its Class A common stock at a price between $14 and $16 USD a piece on the New York Stock Exchange. The private club has been a known spot for creatives to meet around the world. Soho House currently has over 119,000 members across Amsterdam, Mumbai, Tel Aviv, London and Mykonos.
Soho House is planning on expanding its houses across the Americans, Europe, Asia and Africa. The house currently has more than 59,000 applicants on the waitlist and recently reported a membership retention rate of 92 percent. Though that is the case, the club has never been profitable. In the first quarter 2021, the company recorded a net loss of $93 million USD and a total revenue of just $72 million USD.
In case you missed it, guests can now reserve an overnight stay at the Palace of Versaille.
