In May 2012, Sonos opened the Sonos Studio in Los Angeles, a studio and art gallery in which art was exhibited along with Sonos' products for free, and featured events with artists like Beck, The Lonely Island and Solange, and released a video about its development. The Los Angeles location was closed in 2018; a London location remains open. In December 2013, the company was estimated to have raised $118 million in venture funding, including a $25 million round; its investors included Kohlberg Kravis Roberts, Redpoint Ventures and Elevation Partners. In January 2015, Sonos was rebranded by Bruce Mau Design, with a new visual identity and improved logotype that was created over the span of four years, from 2011 to 2014. There have been other brand refreshes, including one in 2019. In February 2016 Sonos also released a study called Music Makes it Home Study. In March 2016, CEO John MacFarlane announced the company's shift to streaming music services and voice control instead of local playback, and laid off some employees. In July 2016, the company opened its first Sonos Store in SoHo. In September 2016, the company announced that its products would become available at the Apple Store. In January 2017, MacFarlane announced via the company's blog that he would be stepping down from his role as CEO, and that he would be succeeded in this position by former COO Patrick Spence. In December 2017, IKEA and Sonos announced a collaboration to build Sonos' technology into furniture sold by IKEA. In August 2018, Sonos went public, trading on the NASDAQ under the symbol SONO. In November 2019, Sonos acquires Snips SAS, a privacy-focused AI voice platform for connected devices with the goal to bring a music-specific assistant to its devices. In April 2020, Sonos revealed a new "sonic logo" composed by Philip Glass, featuring an ensemble of 21 musicians. The logo will be heard in the listening experience of Sonos Radio, an Internet radio streaming service that was unveiled by the company the same month. In June 2020, Sonos announced plans to lay off 12% of its workforce, close its New York store and six of its offices, and cut its top executives' pay by 20% for three to six months, in response to the economic disruptions caused by the COVID pandemic. In November 2020, Sonos launched “Sonos Radio HD", a paid ad-free tier of Sonos Radio. In January