Video streaming company Roku raises $219M in IPO

Video streaming company Roku raises $219M in IPO

Roku has priced its initial public offering at $14 per share as it seeks to become the "TV streaming platform that connects the TV ecosystem". Roku generated $199.7 million in revenue during the first half of this year, up 23% from $162.3 million during the same time last year.

Local TV streaming startup Roku popped in its public market debut Thursday morning, with its shares climbing almost 30 percent.

Roku has seen a strong performance in trading during its market debut Thursday.

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In the quarter ended June 30, the company posted a net loss of $15.5 million, bigger than $14.1 million loss in the year-ago quarter. Video player sales dipped 2% to $117 million in the first half of 2017 compared with a year earlier despite a 37% increase in volume sales.

"We depend on a small number of content publishers for a majority of our streaming hours, and if we fail to monetize these relationships, directly or indirectly, our business could be harmed", the company said in the filing.

Similar concern is being raised about Roku the next tech company in line for an IPO on Thursday. Founded by Anthony Wood, the "father of the DVR" who still leads the company as CEO, Roku has more than held its own against tech behemoths Apple, Google and Amazon.

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With all three offering boxes for streaming videos features the most popular apps such as Hulu and Netflix.

Despite heavyweight rivalry, Roku has managed to find and maintain its footing.

Even though CEO Wood isn't anxious about his company's ability to compete, investors will have to decide if Roku's market share and option-oriented platform are enough to set the streaming device maker apart. Where Google, Amazon, and Apple are blocking rival services and products-Google recently pulled its YouTube video Service from Amazon's Echo Show device, and Netflix was not initially included in one of Apple's TV apps-Roku offers its users a wide range of streaming options. Roku has delivered 11.9 billion total streaming hours in the past 12 months, more than double its 5.5 billion streaming hours in 2015.

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