Roku Aims to Raise Over $250 Million with an IPO

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Roku, the company behind a pioneer video streaming player, is planning to go public and is hoping to raise a little over $250 million.

The California-based company said on Monday that it would be offering around 18 million shares priced at $14 a share.

The video streaming company is trying to get into more households and going public could help. As of June 30th, Roku had 15.1 million active accounts. According to the company, users had streamed over 6.7 billion hours in the six month period that ended on June 30th.

Founded in 2002, Roku makes most of its revenue from its streaming players. The company is mostly owned by Anthony Wood who is the founder and CEO, and venture capital firm Menlo Ventures. Wood owns 28% of the company while Menlo Ventures has a 35% hold.