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 

Please follow us on Facebook and Twitter for more news, tips, and reviews.

Need cord cutting tech support? Join our new Cord Cutting Tech Support Facebook Group for help.

One Response to Roku Plans to Raise $252 Million with Their New IPO

  1. TV Barrington September 20, 2017 at 8:23 am #

    I doubt that it would happen, but it would be absolutely fantastic if future Roku devices had more processing capabilities and the ability for external storage, to where apps like SlingTV as well as other apps, that would allow each app the ability to use DRM to DVR shows directly onto the Roku’s external storage device if they wanted. However, I have my doubts this would ever happen because apps like Sling, Hulu, Amazon, and others currently make money through their own cloud DVR service. But, an ability like this would be a competitive feature. Before someone responds and says no to this idea, just think back before Sling TV, that people would have argued that cable based channels (AMC, A&E, SYFY, …) would never be on a streaming and away from cable companies.