Published on July 14th, 2017 | by Sofia Vida0
Roku Is Preparing for An IPO
It looks like internet TV company Roku is looking to go public.
According to sources who are familiar with the matter, the company has hired investment banks to lead its initial public offering and it may come this year. The company is aiming for a valuation of over $1 billion.
It was Anthony Wood who invented the digital video recorder (DVR) that founded Roku. The device was one of the first to stream internet content like Netflix over the television.
It was the Wall Street Journal who broke the news first that Roku was hiring underwriters. According to the sources who have asked to not be named as everything is still confidential, Roku has hired Morgan Stanley and Citigroup to lead the IPO.
According to Roku, it generated $400 million in revenue in 2016. As of June 30th of this year, the company has 15 million monthly active accounts.