Roku raises $60M from Hearst, News Corp, others

May 29, 2013

Roku, the streaming video device maker, has raised $60 million in its sixth round of funding. Media giant Hearst Corp. and an unnamed institutional investor joined News Corp. and its subsidiary British Sky Broadcasting in the round.

Roku's service offers an alternative to broadcast, cable and satellite television and first supported Netflix viewing five years ago. The funding comes as the battle for the living room heats up and traditional pay TV subscriptions stagnate in the U.S.

Apple CEO Tim Cook told a conference Tuesday the company has a "grand vision" for remaking TV. Microsoft Corp. last week unveiled a new gaming console, the Xbox One, in which users can flip through channels using voice commands.

Roku says the funding will help it develop its streaming software and services business.

Explore further: Ticketfly buying WillCall for on-premise data

4 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

News Corp buys stake in Web video player Roku

Jul 26, 2012

(AP) — News Corp. is taking a stake in Internet video streaming set-top box maker Roku Inc. and putting one of its senior executives on Roku's board of directors as it seeks a greater role in distributing video over ...

There's more than one way to connect

May 28, 2013

It's not enough these days to wonder what to watch on your TV; a growing question for many is how to watch. Just like any device in your life, TVs can now connect to the Internet. This lets you grab shows from the Internet ...

Roku adds headphones to latest online video player

Mar 06, 2013

Roku is plugging headphones and several other new features into its latest set-top box for streaming Internet video to TVs, a move that amplifies its effort to upstage Apple's better-selling player.

Recommended for you

Ticketfly buying WillCall for on-premise data

11 hours ago

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

Aug 20, 2014

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0