Topgolf International teeing up for possible IPO

Topgolf is talking to investment banks about filing for an initial public offering in 2020, according to Reuters.

The company operates 52 U.S. golfing centers, three in Britain and one in Australia.

Sources says the company is looking for a valuation in the range of $1 billion.

Topgolf would like to expand to open more venues in the U.S., Britain, Mexico, Dubai and Canada.

Callaway Golf is among the company's investors holding a 14 percent stake.

Topgolf uses microchips in its balls to track distance and accuracy across a variety of golf games. It also offers food and drinks to its golfers.