- Soho House, a network of private social clubs, filed confidential IPO paperwork with the Securities and Exchange Commission, Sky News reported.
- The company could be valued at more than $3 billion, creating a windfall for founder Nick Jones.
- The London-based company is part-owned by American billionaire Ron Burkle.
- See more stories on Insider’s business page.
Soho House, a London-based network of private social clubs located worldwide, has filed to go public in the US, Sky News reported Friday.
The company this week filed confidential IPO paperwork with the US Securities and Exchange Commission. Soho House could be valued at more than $3 billion (£2.1 billion), the report said, citing banking sources.
Soho House is aiming for a listing on the New York Stock Exchange, eschewing a listing in London with Sky News noting that the company is majority-owned by Ron Burkle, a billionaire from California who is the part-owner of the Pittsburgh Penguins hockey team and co-founder of private investment firm Yucaipa Companies.
Soho House’s founder is Nick Jones, who opened the original location in the west end of London in 1995.
The company two years ago decided to raise capital privately instead of filing for an IPO, the report said.
The network includes 27 houses in 10 countries including the US, Germany, India, and in Hong Kong. It opened its first US-based house in 2003 in the Meatpacking District in New York City.