Friday, 21 July, 2017

Roku set for IPO

Technology Jul 14 2017 06:00 AM ET Report Roku Eyes IPO'Journal says tech company hires bankers looks to raise as much as $1B Technology Jul 14 2017 06:00 AM ET Report Roku Eyes IPO'Journal says tech company hires bankers looks to raise as much as $1B
Laurie Berry | 14 July, 2017, 22:43

An IPO will test investor's reception to Roku, the brainchild of digital video recorder (DVR) inventor Anthony Wood that was a pioneer in helping consumers cut the cord from traditional cable. In 2014 it was considering an offering but instead chose to further develop what was then its fledgling streaming video business.

Roku made one of the first devices to offer streaming Internet content such as Netflix over TVs, but the market has since become more competitive, with Apple Inc, Alphabet Inc's Google, Amazon.com Inc and others offering their own devices.

Morgan Stanley, Roku and Citi declined to comment.

Earlier this year, Roku revealed that it had generated close to $400 million in revenue in 2016, with its media and licensing business bringing in more than $100 million.

There were also rumors earlier this year that Roku was planning a new funding round of at least $200 million, but at the time there was no mention of another IPO attempt.

Vettel felt 'dizzy' using 'shield' cockpit protection
The Shield was fitted on to Vettel SF70-H and the Ferrari driver was the first on track to test the unit. "On Friday you don't run maximum performance".

This week, Roku also announced that it has reached a milestone of 15 million monthly active accounts.

Roku has unveiled paid advertising options for its streaming partners, netting Roku a piece of the advertising revenue for the apps on its services.

If and when the company, which makes a line of streaming media players and licenses its software for use on a growing number of smart TVs, goes public, it'll have a few attractive stats it can use to sell itself.

The streaming software and device manufacturer has been able to capitalise on cord-cutting, an increasing trend in the United States where TV viewers have opted not to pay for cable TV.

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