Subscription box service Stitch Fix finally went public today, in what is the first—and only—female-led tech exit of 2017. Its stock is already up 13%, just hours into its first day of trading. Stitch Fix had priced its initial public offering at $15 a share and raised $120 million, putting its valuation at around $1.5 billion.
This IPO is atypical for a few reasons, the most obvious being that CEO Katrina Lake is at its helm. It's rare that you see a female-run company go public—less than 8% of IPOs this year were led by women, per Recode—but it's rarer still for it to be a tech exit. Stitch Fix is also set apart by its profitability, recording revenue of nearly $1 billion during the last fiscal year, and its moderate capital; the company had raised just $42 million in funding prior to its IPO.
We'll see if that continues to be the case now that Stitch Fix is a public company.