Wednesday, 18 October, 2017

Roku IPO Gives it $1.3 Billion Value

Roku just priced its IPO at the top of its range, fetching a $1.3 billion market cap before trading on Thursday Roku prices IPO at top of price range, raises USD 219 mln
Mae Harvey | 29 September, 2017, 00:44

In an SEC filing, the company disclosed it had about 15.1 million activge accounts and has streamed 6.74 billion hours of content. The company has said that the majority of its current revenue comes from streaming player sales.

Now it has to compete with devices from Amazon, Google, and Apple.

Roku is poised to capitalize on the popularity of streaming content.

Like many Silicon Valley tech companies entering the public market, Roku is not profitable. A cut of subscription revenue from the apps featured on Roku's platform also provides a sizable share of business. The company priced its 18 million share initial public offering at $14 per share, which is at the top end of its expected price range. The company plans to make more money for every hour of viewing by selling more advertisements within its platform. Its fiscal 2016 revenue of $398.6 million was up 25% from the $319.9 million in fiscal 2015.

Roku Inc. (NASDAQ: ROKU) entered the market with a bang on Thursday morning as one of the most anticipated initial public offerings (IPO) this fall.

All three offer streaming video boxes featuring the most popular apps, such as Netflix and Hulu, to the growing number of cord-cutters untethering themselves from cable television.

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The offering will raise $126 million in funding for Roku, while giving existing shareholders of the company roughly $93 million. Menlo Ventures was the largest stakeholder prior to the IPO, owning 35.3 percent of the company.

The company brought in $399 million in revenue in 2016, but lost $43 million.

Roku announced that it had generated revenue of just over $199.6 million during the six-month period ending on June 30.

"That's great growth for them, but that playbook can also be copied", said Kathleen Smith, principal at Renaissance Capital.

Roku investors have to hope the company's perception on Wall Street doesn't go the way of Snap or Blue Apron - businesses whose ideas can be easily replicated by a deep-pocketed competitor.

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