Earlier this year Roku, the streaming media player, and ad company, went public. With an initial public offering of $14 a share the stock has gone up to $44.92. (At the time of this writing.)
Now Needham Investment Banking Group, who helped with the initial public offering, reported yesterday that Roku, Inc., raised $252.3 million with the initial offering.
Recently there has been a lot for investors to be happy with when it comes to Roku—from a fresh line of new streaming players to several major deals to include the Roku TV OS on RCA and Philips TVs.
Roku has seen strong growth in ad sales that now account for more than 40% of their revenue. Roku has also continued their domination of the streaming set-top box market with more than 50% of the United States owning a Roku.
Roku is facing growing competition from the new Apple TV 4K that brings the badly needed Apple TV 4K HDR option. Amazon has also recently cut their price with their new less expensive Fire TV 3 at just $69.99.
The question now is how will Roku use their newly raised money.
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