TV-gadget maker Roku climbs after IPO raises $219M

Shares of Roku, an early player in streaming-video gadgets, are soaring after its initial public offering of stock raised $219 million.

The shares priced at $14 each, the top of the company's expected range, suggesting strong demand from investors. They rocketed to more than $22 in Thursday afternoon trading, a gain of 60 percent.

The Los Gatos, California, company is known for its boxes and sticks that let users watch Netflix, Hulu and the growing universe of streaming-video options on their TVs. It has the biggest of the streaming-gadget market, but has deep-pocketed competitors in Amazon, Google and Apple.

Roku is unprofitable and has amassed $244 million in losses since it was founded in 2002.

© 2017 The Associated Press. All rights reserved.

Citation: TV-gadget maker Roku climbs after IPO raises $219M (2017, September 28) retrieved 28 February 2024 from
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Video streaming player pioneer Roku seeks $100M in IPO


Feedback to editors