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Video streaming device maker files for IPO

By Reuters
US, 04 Sept 2017

Video streaming device maker Roku filed for an initial public offering on Friday, as the company looks to cash in on the booming demand for such services.

The Los Gatos, California-based company said it applied to list its Class A common stock on the Nasdaq under the ticker symbol "ROKU".

Connected to televisions, Roku devices provide access to services offered by Netflix, Hulu, Amazon and Starz, among others.

Roku had 15.1 million active accounts as of 30 June, according to the filing.

The company streamed 2.9 billion hours, including advertising, in the six months ended 30 June, a 76% jump from a year earlier, according to the filing.

The filing did not mention the number of shares that will be offered or their price range.

Morgan Stanley and Citigroup Global Markets are the lead book runners, according to the filing.

Roku filed for an IPO of up to $100 million. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.