Video Streaming Player Pioneer Roku Seeks $100M In IPO

Video streaming player pioneer Roku is going public, hoping to raise money to expand into more households and fend off competitive threats from bigger technology companies.

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Roku listed a $100 million fundraising target in a last Friday (01) regulatory filing. But that figure is likely to change after its investment bankers gauge the demand for its initial public offering of stock. Companies typically complete their IPOs two to four months after filing then getting approval from government regulators.

The documents provided the first peek at Roku’s finances and other previously confidential information.

Like many young tech companies, Roku is still unprofitable. Last year, it lost nearly $43 million on $399 million in revenue. Since its 2002 inception, Roku has amassed $244 million in losses.