Home Entertainment

Roku files for IPO, seeks to raise $100 million

Roku's streaming devices routinely beat out similar products from the likes of Amazon, Google and Apple.

Sarah Tew/CNET

Roku is ready to go public.

The streaming device maker is seeking $100 million in its initial public offering, according to a filing Friday with the US Securities and Exchange Commission. The company will be listed on NASDAQ under the ticker ROKU.

Roku, which makes popular streaming devices like the Roku Premiere, Roku Express+ and Roku Streaming Stick, said it's seizing on the cord-cutting trend. "TV streaming's disruptive content distribution model is shifting billions of dollars of economic value. Roku is capitalizing on this large economic opportunity," reads the filing.

Roku may not be as recognizable a name as some of its streaming box competitors, which are all monolithic tech companies like Apple, Google and Amazon, but its products routinely slay in CNET reviews and in sales

In the filing, Roku said it had more than 15 million active accounts, and that its users streamed over 6.7 billion hours of content on its platform in the first half of this year, a 62 percent increase from the first half of 2016. Earlier reports hinted that Roku planned to go public this year. 

Roku declined to comment beyond the filing.