Roku Planning $1 Billion IPO

Joanna Estrada
July 14, 2017

According to a report out of The Wall Street Journal, US streaming player Roku plan to take their company public by the end of 2017.

Roku also sells targeted display and video ads. The company recently hired Morgan Stanley, Citigroup and Allen & Co.as underwriters for its public offering, the Journal reported Thursday afternoon.

The company reported 2016 revenues at almost Dollars 400 million, with media and licensing contributing more than a quarter to the number.

Roku had hoped to launch an IPO in 2014, but its strategy shifted at the time towards putting more emphasis on streaming-related services rather than hardware.

Roku could file confidentially in the next couple of weeks, a source told the paper.

Roku declined to comment.

Roku's platform has been open to carrying more TV apps than its peers, including Amazon Prime Video, Hulu and Google Play. The company is reportedly looking for a valuation of $1 billion.

It also licenses its software to companies like Sharp and Hitachi, allowing them to make televisions with built-in Roku streaming. It accounted for almost half of all over-the-top streaming devices in the United States past year, according to market research firm comScore.

The company has raised more than $200 million in funding since 2008 from investors that include News Corp., Viacom Sky and Hearst.

Other reports by Click Lancashire

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