Roku Expects to Launch IPO Before Year-End

Roku Expects to Launch IPO Before Year-End

That's according to the Wall Street Journal, which cites "people familiar with the company's plans".

Reports say the firm is tapping Citigroup, Allen & Co and Morgan Stanley to underwrite the offering. This new registration document will account for a change in Roku's business model towards higher-margin advertising and licensing revenue, said a source close to the company.

Roku is planning to go public before the end of the year, according to a report in The Wall Street Journal.

In its last fiscal year, Roku raked in $400 million in revenue, the company revealed in its February earnings call. With births declining and immigration slowing, population growth in the US has stalled.

Internet TV company Roku has reportedly hired several investment banks to prepare for an IPO later in 2017.

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Roku has repeatedly fared well in online reviews against competitors like Apple TV, Google Chromecast and Amazon Fire TV for its ease of use and accessibility.

Roku has long offered an open system for media and entertainment apps such as Netflix, HBO Now and Amazon Prime Video.

It had 15 million active monthly accounts as of June 30 this year that had streamed over the previous 30 days. It accounted for almost 50% of all over-the-top streaming devices in the United States previous year, according to market research firm comScore.

The company also has a licensing deal in place with TCL that allows the latter to sell Roku built-into select televisions.

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