Stitch Fix's IPO was... fine. It was fine

Source Stitch Fix

The deal priced below an initial expected range of $18 to $20, and was reportedly cut in size, from 10 million to 8 million shares, and then ended being over-subscribed, according to TheFlyontheWall.

Fewer than 8 percent of all USA public market debuts so far this year were led by women, up from about 7 percent last year, according to data from S&P Global Market Intelligence.

Founder and chief executive Katrina Lake previously ran the blogging platform for e-commerce operation Polyvore. 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.

Stitch Fix is so far the only tech IPO led by a woman this year.

However, despite the disappointing performance of the stock, other women in technology and retail lauded the efforts of the company.

Just 3 percent of American companies that went public from 1996 to 2013 were led by women, according to research by professors at the University of California at Davis.

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That figure, say analysts, is lower in a tech industry that is male dominated.

Stitch Fix has grown rapidly, thanks in part to $44 million in venture capital funding. That's a 34% jump in revenue from the prior-year period, and a a decline on the profit line from the company's $33 million profit in 2016. Visit MarketWatch.com for more information on this news.

However, analysts say that growth is beginning to slow and attracting additional customers is becoming more hard, as well as costly, for the business.

However, unlike Blue Apron, Stitch Fix has been profitable in recent years.

"The easy apples are picked - they've got 2.4 million clients - but where do you go from here?" said Kathleen Smith, co-founder of Renaissance Capital, an investment management firm that specializes in IPOs. Shares of Snap are down more than 50 percent since its March IPO, while Blue Apron's stock is down almost 70 percent following its June debut.

Stitch Fix has a lot of competition, including Trunk Club, owned by department store operator Nordstrom. When Flynn sought legal counsel, she claims that Lake retaliated by forcing her out of the company.

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