Roku is planning to file an IPO

Roku seeks to raise $100M in IPO   Roku's streaming devices routinely beat out similar products from the likes of Amazon Google and Apple.          
    Sarah Tew  CNET

On Friday, Roku Inc. filed for an initial public offering (IPO) in the United States, according to files available in the public record submitted by the company to the Security and Exchange Commission (SEC).

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

Since launching its first device in 2008, Roku has become a market leader for devices that help people stream content directly through their televisions.

Roku filed for an IPO of up to $100 million.

Roku said in a filing with the US Securities and Exchange Commission that it meant to be traded on Nasdaq under the symbol ROKU.

The company said it generated $199.7 million in revenue in the six month period ending on June 30. Year over year, Roku user accounts increased 42 percent.

Roku has seen a significant jump in its streaming in the past year. Roku had 15.1 million active accounts as of June 30, according to the filing.

Roku laid claim to being the top television streaming platform in the USA as measured by total hours streamed. Each active user is now worth $11.22 to the company - up from $9.28 in 2016, and $6.48 in 2015.

Roku is betting that viewers will continue to stream TV.

However, its success comes mostly from set-top box sales and ad revenue from its platform. Roku provides a blueprint that lets TV makers bake Roku's technology, including its slick operating system, into its smart TVs in return for a licensing fee. It lost $24.2 million in the first half of 2017. Since 2002, the company has incurred a total deficit of $244 million. Morgan Stanley, Citi, Allen & Company and RBC Capital Markets are the joint bookrunners on the deal.

Roku was expected to move toward an IPO in 2014, but it never materialized.



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