Finance

Roku is eyeing a public offering this year

Roku is eyeing a public offering this year

Roku had tested the IPO waters in the past. The company recently hired Morgan Stanley, Citigroup and Allen & Co.as underwriters for its public offering, the Journal reported Thursday afternoon.

Roku is reportedly eyeing a $1 billion valuation for its IPO. That's both good and bad for the company; good because Roku can position its platform as an independent distribution channel for any OTT app, and bad because the company can't match the scale of many of its competitors who combine their streaming technologies with other lines of business.

The Wall Street Journal also says Roku will likely pitch itself as the future of television as consumers cut cords in increasing numbers and Roku itself has pivoted from generating revenue from hardware to more of an ad-based and revenue-sharing model for streaming services with content from players like Netflix, Amazon and Hulu.

This isn't the first time Roku has considered going public.

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As of June 30, 2017, the company has 15 million monthly active accounts that streamed video in the last 30 days.

Roku generated over $400 million in revenues a year ago, with its media and licensing arm accounting for a quarter of the total. This figure made up nearly half of all over-the-top streaming devices in the USA last year, according to data compiled by market research firm comScore.

Roku has accumulated a number of big-media investors over the years including Viacom Inc, 21st Century Fox Inc, Hearst and Dish Network Corp.

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