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Sonos is reporting that they doubled their revenue in 2013 to $535 million, increasing by nearly 97 percent from the year before.
According to The Hollywood Reporter Sonos, which makes a wireless system for streaming Internet music throughout the house, including different playlists in different rooms, rarely makes their numbers available, but did so along with an announcement about their commitment to innovation.
The blog, which posted on Sonos' website stated their patents played an enormous role in their achievements. The blog went on to say, “in the interests of being transparent and eliminating surprises, we will be ‘forward-publishing’ our patent applications well before they are available to the public (which is usually 18 months after the patent application). We are doing this for anyone or any company that might be interested in the patents we are seeking.”
Sonos has filed almost 200 patents for their system, with the music service being made compatible with iTunes, and streaming services Pandora and Spotify. The company has raised at least $125 million from investors that include Kohlberg Kravis Roberts and Index Ventures.
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