So that's what they're up to.
After receiving a flurry of minimally explained private investments in recent weeks, Roku is reported to be in the midst of planning a confidential public offering.
The Wall Street Journal reports that the streaming video company has been working with banks including Bank of America Merrill Lynch and Citigroup Inc. to prepare for an IPO that could raise as much as $150 million.
The timing of such a potential IPO, and the valuation Roku is seeking, remains unclear, the paper says.
Roku is the leader in the U.S. over-the-top device market, but has its forward-looking goals set on monetizing the hundreds of content channel partnerships that currently growing on its service.
It was reported only last week that the company received another $25 million in private backing, putting its total investment over $150 million to date. The company was vague about the intended use of the funds, calling it "additional growth capital."
- read this Wall Street Journal story (sub. req.)
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