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Video streaming company Roku raises $219M in IPO

Sep, 28 2017, 9:27 AM

Roku Inc, which makes a video streaming device, raised about $219 million in an initial public offering at the high end of its price range.

The Fox-backed company offered 15.7 million shares at $14, pegging its valuation at $1.32 million.

Roku was one of the first companies to make a device that lets users stream content from Netflix, Hulu, Amazon Prime, and Youtube to their TV sets. It offers more than 3,000 channels.

Now it has to compete with devices from Amazon, Google, and Apple.

In an SEC filing, the company disclosed it had about 15.1 million activge accounts and has streamed 6.74 billion hours of content.

In its last quarter, it reported a net loss of $15.5 mllion, up from a $14.1 million loss in the same period a year ago.





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