August 3, 2023
• Needham-headquartered home appliance company starts trading on the New York Stock Exchange.
SharkNinja, Inc., who has corporate offices in Needham, is now an independent, publicly-traded company. On Monday, July 31st, Mark Barrocas, Chief Executive Officer, rang the opening bell on the Exchange in honor of Shark Ninja’s separation from it’s parent company, JS Global Lifestyle Company, Ltd., a Chinese manufacturer of small appliances.
JS Global had built two billion-dollar brands specializing in home appliances, Shark and Ninja. Products under the Shark brand include cordless and upright vacuums, robot vacuums, air purifiers, and hair dryers. Products under the Ninja brand include electric creamers, air fryers, ceramic fry pans, and outdoor ovens and grills.
In their filings with the Securities and Exchange Commission, the split was being made to simplify operations and provide improved financial transparency. JS Global would continue to partner with Shark Ninja, Inc. in their operations across the Asia Pacific Region. In fact, SharkNinja’s separation from JS Global does not make it an American-based company. While headquartered in Needham, the company is incorporated in the Cayman Islands, and operates on the exchange as a “Foreign Private Issuer”. The Chairperson of the Board, CJ Xuning Wang, holds a 57% interest in both SharkNinja, Inc. and JS Global Lifestyle Company, Ltd.
The company’s separation generated just under 139 million ordinary shares of stock is now traded under the symbol SN. More information can be found on the separation at sharkninja.com.