Roku is planning to file an IPO
Roku is going public.
The streaming device company on Friday filed for an initial public offering. It told the SEC it intends to sell up to $ 100 million in common stock. Roku did not specify a date for the IPO.
Appropriately, it hopes to trade under the symbol ROKU.
In the filing, the company said it has 15.1 million active accounts as of June 30 of this year and that Roku users streamed more than 6.7 billion hours on the platform in the six months ending on that date. Roku said that marks a 62% growth from the same period last year.
Roku is betting that viewers will continue to stream TV. Nearly 80% of millennials said they watch or have access to streaming services, according to eMarketer,
Roku boxes offer users access to free channels like YouTube, subscription channels like Netflix (NFLX, Tech30) and cable channels like HBO.
Related: Will streaming TV get crazy expensive in the future?
The company said it generated $ 199.7 million in revenue in the six month period ending on June 30. In fiscal year 2016, it generated $ 398.6 million in revenue, an increase of 25% from 2015.
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