Roku said to be preparing for IPO this year
Maker of streaming boxes and software seeks a valuation of $1 billion, The Wall Street Journal reports.
Roku, maker of set-top streaming boxes, could go public this year, according to a report.
Roku may soon be streaming across a stock market ticker.
The maker of set-top streaming boxes and software is preparing for an initial public offering before the end of the year, The Wall Street Journal reported Thursday. The Los Gatos, California-based company recently hired Morgan Stanley, Citigroup and Allen & Co. as underwriters on the IPO and is seeking a valuation of $1 billion, sources familiar with the company's plans told the Journal.
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 Roku is the most pervasive box in US households and tends to be one of the main ways people stream long-form TV from services like Netflix and Hulu, according to research firm Nielsen.
Roku said in June it has 15 million monthly active accounts, a 61 percent increase in the previous 12 months. The company had $400 million in revenue in 2016.
Roku declined to comment.
CNET Magazine: Check out a sample of the stories in CNET's newsstand edition.
Tech Enabled: CNET chronicles tech's role in providing new kinds of accessibility.