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Roku to go public: Reuters
Posted on Friday, 14 July 2017 11:28
US Internet television player Roku is planning to conduct an initial public offering (IPO) and has appointed Morgan Stanley to advise on the matter, people with knowledge of the matter told Reuters.
According to the sources, who did not wish to be named as the matter is confidential, the company hopes to achieve a valuation of over USD 1.00 billion and could float later this year.
None of the parties involved have commented on the report.
An IPO of Roku was first mooted back in February 2014, when sources in the know told Bloomberg the firm was considering floating in the US later that year.
However, that report cautioned that a final decision had not been made at the time and clearly the listing did not transpire.
One person noted that a confidential filing was lodged back then, but a new document is being drafted to account for changes to the group’s business model over the ensuing years as it has moved toward advertising and licensing revenue.
None of the parties involved have commented on yesterday’s Reuters report as yet.
Roku describes itself as a pioneer in the streaming of television content and streamed some 5.50 billion hours of programming in 2015, according to its website.
At the end of that year it had 9.00 million monthly active accounts.
The firm’s investors include Menlo Ventures Management, which invested an undisclosed sum in the business as part of a Series C injection in October 2008.
According to its website, among its other shareholders are 21st Century Fox, Viacom and Sky.
Should Roku announce its intention to go public, it would not be the first manufacturer of radio and television broadcasting and wireless communications equipment to do so this year.
According to Zephyr, the M&A database published by Bureau van Dijk, seven such deals have been signed off since the beginning of 2017.
The most valuable of these involved Fujian Newland Communication Science Technology unveiling plans to raise USD 35.05 million by listing on the Shenzhen Stock Exchange.
Others in the sector who are planning to go public this year include Frsky Electronic, MaxCom and Mobilicom.
© Zephus Ltd