Published: Fri, July 14, 2017
Money | By Armando Alvarado

Streaming Device Maker Roku Wants to IPO By Year-End

Streaming Device Maker Roku Wants to IPO By Year-End

That offering never materialized, and now the company expects to get a boost on the public market because it's added new revenue from streaming services to the money it originally raked in on hardware sales, The Wall Street Journal reports.

Streaming media company Roku is getting ready to go public before the end of the year - and it might even file in the next few weeks.

Citing unnamed sources, they report that the company plans to seek a $1-billion valuation before the year is up.

The streaming software and device manufacturer has been able to capitalise on cord-cutting, an increasing trend in the United States where TV viewers have opted not to pay for cable TV.

An IPO will test investor's reception to Roku, the brainchild of digital video recorder (DVR) inventor Anthony Wood that was a pioneer in helping consumers cut the cord from traditional cable.

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If this seems like deja vu, it's because Roku was rumored to be going public back in 2014.

Roku has repeatedly fared well in online reviews against competitors like Apple TV, Google Chromecast and Amazon Fire TV for its ease of use and accessibility.

It had 15 million active monthly accounts as of June 30 this year that had streamed over the previous 30 days.

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. Backers include Fox Networks Group, Hearst Communications, Netflix, Sky, and Viacom.

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