Roku's IPO values the company at $2 billion

Roku's IPO values the company at $2 billion

The stock, which trades under the ticker "ROKU", debuted on the Nasdaq, and soared as much as 30% above its IPO price initially.

Roku has priced its initial public offering at $14 per share as it seeks to become the "TV streaming platform that connects the TV ecosystem". The shares rocketed to more than $21 in Thursday afternoon trading, a gain of over 50 percent.

With all three offering boxes for streaming videos features the most popular apps such as Hulu and Netflix. Apple, Amazon, and Google are all selling streaming hardware, and both Amazon and Google have partnered with TV makers to get their software operating systems on brand-new sets.

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Roku announced that it had generated revenue of just over $199.6 million during the six-month period ending on June 30.

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

Roku plans to sell 15.8 million shares from both Roku and some of its private shareholders. The company aims to increase advertising sales through the platform, which is a higher margin business than devices. A cut of subscription revenue from the apps featured on Roku's platform also provides a sizable share of business. In 2016, it posted a net loss of $42.8 million compared to a loss of $40.6 million the year before.

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Roku previously raised more than $200 million from investors such as News Corp, Viacom, Sky and Hearst.

At the moment, Roku still makes most of its money from selling streaming players, but with its emphasis on future advertising revenue, Roku has focused on growing its user base through programming - the company has more than 5,000 channels within the US and 3,000 internationally - and hardware.

Roku's financial growth also has been impressive.

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Roku investors have to hope the company's perception on Wall Street doesn't go the way of Snap or Blue Apron - businesses whose ideas can be easily replicated by a deep-pocketed competitor. "These big companies are a force to contend with".

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