Roku prices IPO at $14 per share, valuing company at $1.3B
Roku prices IPO at $14 per share, valuing company at $1.3B
Roku just priced its IPO at the top of its range, fetching a $1.3 billion market cap before trading on Thursday
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.
Star Trek isn't Star Trek if it isn't examining us, and Discovery looks to keep the Gene Roddenberry flame lit in that regard. The other show feels like a version of Star Trek created to cater to the immediate cultural moment in all the wrong ways.
Students at the Mormon university pushed to get caffeinated soft drinks sold on campus, reported the Associated Press . Brigham Young University announced Thursday that it will start to sell caffeinated soft drinks on campus.
It's the clearest signal yet that Mueller's investigation is reaching right into the Oval Office, right up to the Resolute desk. The list of categories from Mueller reads like a greatest hits of the Trump team's missteps.
The biggest issue may be winning the approval of Saudi Arabia's Wahhabi clerics, the most conservative of the Islamic faith. President Trump has commended the kingdom's decision to affirm the right of women to drive in the country.
As Heat fans remember, Wade left for Chicago over a year ago during free agency when he and Riley were not on speaking terms. Wade and the Chicago Bulls reached a buyout agreement Sunday, a person familiar with the negotiations told USA TODAY Sports.
But for now, it seems like the GOP will fail to get anything done on this signature campaign issue, with McCain, Sen. This has left little wiggle room for Republicans to lose any votes - with three "no" votes, the bill can not pass.
Australia was also funding surveillance flights over the volcanoes on Ambae and nearby Ambrym island, it added. Mount Agung is among the 129 active volcanoes in Indonesia , a vast archipelagic nation with 17,500 islands.
The broadcaster gave no date for the test , although officials had said on Friday that it would be tested "soon". Iran has "successfully" launched a ballistic missile with a range of 2,000 km, Press TV reported on Saturday.
The return of Sapochnik is significant because there will be many more massive battles in the six remaining episodes on the show. In addition, drama series tend to get more expensive as cast and crew members' salaries increase with each contract negotiation.
He said he did not intend for anyone "to use our tools to undermine democracy". "That's not what we stand for", he said. Facebook is scrambling to put in place policies and procedures to handle that vast influence in a responsible way.
Gov. Rick Scott to visit Puerto Rico Thursday, offering aid
Cargo ships are stuck in port waiting to be offloaded, but supplies have nowhere to go, The Wall Street Journal reported . Pressure on Trump to waive the law had been increasing since reports of Puerto Rico's devastation began gaining traction.
'Saturday Night Live' Reveals New Cast Members
Finally, Deadline reports Saturday Night Live is also beefing up the writers room with seven new hires this season. Null is a Chicago-based comedian who has been improvising, writing and performing in sketches at the iO Theater.
Construction begins on border wall prototypes
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Shakhtar Donetsk coach Fonseca: I believe in Man City upset
They are top of the Ukrainian League and have a wealth of European experience, all of which makes this game an intriguing one. After taking a little time to warm up against Palace, City were back to their irresistible best in the second half.
Why I Didn't Wait For The iPhone X
Another question that we had was will it break as easily as the iPhone 4s did which was the last iPhone to have the glass back. It has a hexa-core central processing unit (CPU) and an Apple graphics processing unit (GPU) for three-core graphics.
NFL star Hernandez's family sues league over 'severe' CTE
We still know very little about CTE as a degenerative disease, and we know even less about how to prevent it or treat it. A defining feature is abnormal deposits of tau, a protein that occurs naturally in the brain but is displaced in CTE.
McCain Says No to Latest Effort to Replace Obamacare
This bill, while not ideal , is in so many ways the middle ground that Republicans and Democrats alike have been calling for. I'm also a retired Navy captain and served in a war over in Southeast Asia where John McCain was a hero.
Spain sends more police to Catalonia to block referendum
Catalonia represents a fifth of Spain's 1.1-trillion-euro ($1.32 trillion) economy and enjoys wide self-government. They would join the roughly 5,000 state police normally stationed in Catalonia and around 17,000 Mossos officers.