Roku Files For $100M IPO: Report

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Roku Files For $100M IPO

The Roku is a series of digital media player set-top boxes manufactured by Roku Inc. Roku streaming device gets data (the video stream) via a wired or Wi-Fi connection to an Internet router. The data is output via an audio cable, video cable, or HDMI cable. The device can be connected to any television set (or other video display device) with appropriate input connections.

Roku has filed for an initial public offering and is looking to raise up to $100M. The company will be listed on the NASDAQ appropriately under the ticker of ROKU.

The today company claims to have 15.1M accounts and stream quarterly 3.5 billion hours of content, which is up 60% year-over-year.

According to the TechCrunch reported in July that Roku was planning an IPO in 2017. Roku has been able to capitalize on the cord-cutting trend, where many people, especially millennials, have opted not to pay for cable television. Instead, they are accessing content on digital platforms like Roku, Apple TV, Google’s Chromecast, Amazon’s Fire TV and others. Roku is the number one streaming device when measured by total hours streamed.