Video streaming device maker Roku files for IPO

[theworldismine13]

Video streaming device maker Roku files for IPO
Video streaming device maker Roku files for IPO

Video streaming device maker Roku Inc filed for an initial public offering on Friday, as the company looks to cash in on the booming demand for such services.

The Los Gatos, California-based company said it applied to list its Class A common stock on the Nasdaq under the ticker symbol “ROKU”.

Connected to televisions, Roku devices provide access to services offered by Netflix Inc (NFLX.O), Hulu, Amazon.com (AMZN.O), Starz among others.

Roku had 15.1 million active accounts as of June 30, according to the filing. bit.ly/2wYNAkO

The company streamed 2.9 billion hours, including advertising, in the six months ended June 30, a 76 percent jump from a year earlier, according to the filing.

The filing did not mention the number of shares that will be offered and their price range.

Morgan Stanley and Citigroup Global Markets Inc are the lead bookrunners, according to the filing

Roku filed for an IPO of up to $100 million. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

 

[ORDER_66]

So they putting themselves on the stock market?!?

 

[N.J.stan]

That year over year jump is pretty impressive, but are manufacturers trending towards including the Roku software on new TVs or towards their own proprietary software

I don't see those boxes holding the company up in the long term. Integration with various manufacturers would seem to be the make or break here

 

[Mike Nasty]

The Roku does so much less than the Firebox and stick.

 

[little4209]

hmmmm roku is just not as needed as it once was...apple tv, smart tv, firesticks hmmmm but they've been hanging around for a minute so somebody' buying it hmm

 

[Mr. Glass]

What's the projected price point?

 

[Obreh Winfrey]

They need to expand into different product offerings to make up for people fiddling with Fire Sticks. I don't see any real sustainability with what they have now.