Saturday, 21 October, 2017

Roku prices IPO at $14 per share, valuing company at $1.3B

2. Roku Amazon 49.99 Roku just priced its IPO at the top of its range, fetching a $1.3 billion market cap before trading on Thursday
Jeannie Matthews | 29 September, 2017, 00:42

Roku was one of the first companies to make a device that lets users stream content from Netflix, Hulu, Amazon Prime, and Youtube to their TV sets. Roughly 39 million people used a Roku device at least once during the month compared to 37 million who used Chromecast, 36 million who used Fire TV and 21 million who used Apple TV.

Like many Silicon Valley tech companies entering the public market, Roku is not profitable.

Tech IPOs have hit something of a lull but as Business Insider reports, "Roku's revenue is growing fast as cord-cutters and other consumers snap up its devices, the cheapest model of which sells for $30". The firm priced its 15.67 million shares at $14 apiece - the high end of the expected price range - although shares actually entered the market closer to $16.

The company licenses its software to companies such as Sharp and Hitachi and gets a cut of the advertising revenue from media companies with apps on its platform. Roku claims to have just over 15 million active accounts, which made just under $400 million in revenue in 2016. This includes ad sales on advertising-supported channels, but also licensing fees, fees for placement in the Roku channel store and more.

Roku previously raised more than $200 million from investors such as News Corp, Viacom, Sky and Hearst. Menlo Ventures was the largest stakeholder prior to the IPO, owning 35.3 percent of the company.

Real Madrid return to winning ways
However, Alaves got the equalizer and their first goal of the season in the 40th minute through their captain Manu Garcia . Ceballos received a pass from Marco Asensio , fought through a tackle, and shot just inside the post for the opener.

Snapchat owner Snap Inc (SNAP.N), and meal-kit delivery company Blue Apron Holdings Inc (APRN.N), which listed in the first-half of the year are trading well below their listing prices.

"That's great growth for them, but that playbook can also be copied", said Kathleen Smith, principal at Renaissance Capital.

The company's stock market debut comes on the heels of its initial public offering confirmation earlier this month.

"There's too much money chasing too few good ideas", Smith said.

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