Report: Roku planning IPO at US$1bn valuation

Streaming media device maker Roku is reportedly preparing an initial public offering and is seeking a valuation of roughly US$1 billion.

According to a Wall Street Journal report, which cites people familiar with the company’s plans, Roku expects to make its stock market debut before the end of 2017 and could file confidentially “in the next few weeks”.

The WSJ reported that Roku has hired Morgan Stanley, Citigroup and Allen & Co as underwriters for the planned IPO.

The news comes a day after Roku announced that it had reached 15 million monthly active accounts globally, having grown its user base 43% year-on-year as of June 30, 2017.

Roku said that users streamed nearly seven billion hours of content on the Roku platform in the first half of 2017, up 61% over the same period of the prior year.

Earlier this year the company also revealed that it had experienced “record growth” during 2016, generating nearly US$400 million in revenue, upping its active accounts by 46% and recording 70% year-on-year growth in streaming hours.