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Roku's stock rockets in its Nasdaq debut

29 September, 2017, 00:43 | Author: Paula Vaughn
  • 2. Roku Amazon 49.99

Roku priced its shares at $14 in its public offering, valuating the company at $1.3 billion. For the six-month period ended June 30, it reported revenue of $199.7 million, up 23% from the year-ago period, with a loss of $21.2 million, compared to a loss of $32.6 million a year ago.

Shares of Roku Inc. blasted off in their stock market debut Thursday, trading up as much as 65% to add to the streaming device company's initial $1.3 billion valuation. Shares opened for trading at $15.78 a piece. It offers more than 3,000 channels. According to the company's filing with the Securities and Exchanges Commission, advertising accounted for 67 percent of Roku's non-hardware revenue for the first half of 2017.

Roku was one of the first companies to make a device that lets users stream content from Netflix, Hulu, Amazon Prime, and Youtube to their TV sets.

Roku was founded in 2002 and has always been admired by even staunch rivals for having crafted perhaps the most elegant user interface in the streaming game.

While it's a popular name among cord-cutters, Roku must now prove to investors that it can compete with the tech industry's leaders.

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Apple has its Apple TV device, Amazon has the Fire TV Stick and Alphabet has the Google Chromecast device. However, rather than being anxious about only one big competitor, Roku will have to fend off others previously named such as Google, Apple and Amazon.

Roku addressed the crowded streaming market in their prospectus as well, recognizing it as a risk and saying that "These companies have the financial resources to subsidize the cost of their streaming devices in order to promote their...products and services making it harder for us to acquire new users and increase hours streamed".

Roku's edge, it seems, comes in form of its ability to offer everything and not step on any toes. Investors sent shares surging on the first day, betting the company can fend off larger rivals. Roku's offering, on the other hand, plays nice with whatever service you want to watch.

It could become the mother of all technological revolutions. This gives Roku a total market capitalisation of around United States dollars 1.3 billion.

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