Roku’s shares continued to rise on Friday, up nearly another 10% after spiking 67% in its first day of trading Thursday during its initial public offering.
As of 11:22 a.m. EST, Roku shares were trading at $27.25 apiece. That second-day boost comes after Roku on Thursday closed at $23.50, well ahead of the $14 per share price it set for its IPO.
According to MarketWatch, the current stock price puts Roku’s market cap at a whopping $2.26 billion.
Roku on Thursday set its stock price at $14 per share and announced it will sell 9 million shares of Class A common stock, its selling stockholders will sell an additional 6,668,000 shares of Class A common stock, and its underwriters have a 30-day option to purchase up to an additional 2,350,200 shares of Class A common stock.
Roku’s first few blockbuster days of trading arrive amid the company’s announcements heading into the IPO that it will be the Roku’s platform, not its popular streaming devices, that fuels future growth for the company.
“Our mission is to be the TV streaming platform that connects the entire TV ecosystem. We connect consumers with the content they love. We help content publishers find their audience and make money. We are pushing TV advertising out of the 1940s—when Bulova watches launched the first TV ad—and into the data-driven, machine learning, era of relevant and interactive TV ads. We partner with TV brands and service operators so they can thrive in this rapidly changing ad world,” said Roku CEO Anthony Wood in the company’s SEC filing.