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Bloomberg
Roku Inc., the maker of devices and software for streaming video that was an early challenger to traditional home-entertainment providers, filed for a US initial public offering.
The company listed an initial offering size of $100 million, which it said is a placeholder used to calculate fees and will probably change.
IT plans to use the proceeds for general corporate purposes including research and development and marketing spending, according to a filing with the US Securities and Exchange Commission. Roku was an early mover in what is now a crowded market of streaming tools. It’s a specialist in an industry in which technology giants, including Apple, Alphabet’s Google and Amazon.com, are now focusing intently.
The company, which has been losing money since it began in 2002, acknowledges the risk of the “highly competitive†market, according to its regulatory filing. “Our mission is to be the TV streaming platform that connects the entire TV ecosystem,†CEO Anthony Wood wrote in the filing.