Streaming media device maker Roku will begin to sell its shares at $14 when it starts trading on NASDAQ Thursday, according to a CNBC report. This puts the company’s valuation at $1.3 billion.
Roku officially filed for IPO earlier this month, and at the time told potential investors that it was going to price its shares between $12 and $14. The company will on NASDAQ under the “ROKU” stock ticker, and Morgan Stanley, Citigroup, and Allen & Co. are listed as underwriters for the public offering.
Roku’s S-1 filing revealed growing revenues, as well as a shift towards advertising-based income streams. Roku generated $199.7 million in revenue during the first half of this year, up 23% from $162.3 million during the same time last year.
During the first six months of this year, 59% of Roku’s revenue came from the sale of streaming devices, 41% from what the company calls its platform business. This includes ad sales on advertising-supported channels, but also licensing fees, fees for placement in the Roku channel store and more. This platform biz grew 91% year-over-year.
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