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Roku Plans to Raise $252 Million with Their New IPO

It looks like Roku has big plans for the future and wants a lot of money to make it happen. To raise these funds, Roku has announced that it will go public and sell stocks on the NASDAQ under the ticker symbol ROKU.

When this was first reported it was said that Roku panned to offer $100 million worth of shares. According to a report from the Los Angeles Times, Roku’s new initial public stock offering will be over $252.

Roku has not said what it plans to do with the money. Roku is still the largest seller of streaming media players in the United States. In 2016 Roku’s revenue totaled $398.6 million and for the first six months of 2017 its revenue was just under $200 million—a 23% jump compared to the first six months of 2016.

There have been rumors that Roku is working on expanding its product lineup by moving back into smart speakers—something Roku did back in the 2000s.

Roku is currently facing growing competition from Amazon, Apple, and Google; however, its market share has stayed steady or grown in the United States and Roku has started to expand into new markets.

Recently a help page in its developer site was updated listing additional markets in Central and South America that would soon be supported by Roku. It looks like Roku is looking to expand its footprint into new areas to help growth.

Roku has not made any official statement about future expansion into new markets, but all signs seem to point to new devices and new markets coming soon.

Source: LA Times 

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