Saturday, 23 September, 2017

Roku sets sights on Wall Street, planning IPO later this year

Roku Expects to Launch IPO Before Year-End Roku Eyes IPO That Could Value It At $1B: Report
Preston Stone | 15 July, 2017, 03:41

Roku could file confidentially in the next couple of weeks, a source told the paper. The company has hired Morgan Stanley (NYSE:MS) and Citigroup Inc (NYSE:C) to help it explore the possibility of launching an IPO.

Roku is said to be seeking valuation of about $1 billion. That's both good and bad for the company; good because Roku can position its platform as an independent distribution channel for any OTT app, and bad because the company can't match the scale of many of its competitors who combine their streaming technologies with other lines of business. Snap has lost almost 36% of its market value since it went public in March, and now trades below its IPO price.

"Our strategy to grow accounts, engage our audience and increase monetization is clearly working with 46% year-over-year growth in active accounts, 70% year-over-year growth in streaming hours and 100+% year-over-year growth in media and licensing revenues", said Roku Founder and CEO Anthony Wood in a statement. This figure made up nearly half of all over-the-top streaming devices in the USA last year, according to data compiled by market research firm comScore.

When South Africa's Pollocks beat England
Anderson reached the milestone when he took the wicket of Dean Elgar in England's second Test against South Africa . England fast bowler James Anderson on Friday became the first pace bowler to take 300 Test wickets at home.

The company also has a licensing deal in place with TCL that allows the latter to sell Roku built-into select televisions. Roku announced earlier this week that it now has 15 million monthly active accounts, and has thus far raised some $210 million in funding over several rounds.

Roku investors include 21st Century Fox, Sky, Hearst, Fidelity Investments, Menlo Ventures and Globespan Capital Partners.

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