Roku Planning $1 Billion IPO


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. In 2014 it was considering an offering but instead chose to further develop what was then its fledgling streaming video business.

The Los Gatos, Calif. -based company is aiming for a $1-billion valuation, the Journal said, citing an unnamed source familiar with the plan. The Wall Street Journal first reported that Roku had hired underwriters on Thursday. 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.

Roku and its competitors, including Apple TV and Google Chromecast, accounted for 11.4% of all viewing for 18-to-49 year olds in May, up from 7.1% the same month in 2016 and 4.2% in 2015, Pivotal Research Group's Brian Wieser reports.

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

A large portion of the company's revenues then come out of partnership and promotional deals with content providers to give their content prominent placing within the platform. 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. Backers include Fox Networks Group, Hearst Communications, Netflix, Sky, and Viacom.