Roku now seeking up to US$252m through IPO

Roku is now looking to raise proposed maximum of US$252 million in its planned IPO, according to amended registration statement filed with the SEC.

The amended S-1 form, which was submitted to the Securities and Exchange Commission earlier this week, said that Roku plans to offer some 15.67 million shares at between US$12 and US$14 per-share.

The offering will reportedly value the firm at between US$1.1 and US$1.3 billion and will see Roku list its Class A common stock on the Nasdaq under the trading symbol ‘ROKU’.

Roku first filed for its stock-market launch earlier this month, and initially set a proposed maximum offering price of US$100 million. It said it plans to use the offering to increase its capitalisation and financial flexibility.

The filing update comes as Variety reported that Roku may be building an Amazon Echo-style smart speaker as part of an increased focus on its audio capabilities.

Roku recently put out a number of job ads for audio-focused roles – including ‘senior software engineer, new products, audio (expert)’ and ‘senior interaction designer, voice’ – and has hired a number of experts with skills in areas like natural language understanding, artificial intelligence and far field voice engineering, according to the report.