Roku Inc. — maker of the Roku streaming device — filed for an initial public offering on Friday, aiming to raise up to $100 million.
Roku’s S-1 filing showed the 15-year-old company has more than 15 million active users, who stream about 3 hours of content a day. The Los Gatos-based company pulled in nearly $200 million in revenue for the first half of 2017, a 23 percent year-over-year increase.
“Over time, I believe that streaming will allow consumers on-demand access to every movie and TV show ever made as well as brand new categories of short form videos and specialty content,” said Roku CEO Anthony Wood in the filing. “Our mission is to be the TV streaming platform that connects the entire TV ecosystem. We connect consumers with the content they love.”
Roku did not immediately respond to TheWrap’s request for comment.
Perhaps the most striking figure in Roku’s S-1 filing: that Roku players accounted for “approximately 48 percent of TV-connected digital streaming device usage.”
Its S-1 filing revealed Roku makes $11.22 per active user, a 21 percent increase from 2016. The filing noted Netflix accounts for one-third of all Roku streaming — its biggest source of content — but that the revenue generated from Netflix was “not material.” Helping its content partners “maintain and expand their channel offerings” is essential to Roku’s business going forward, the filing stated.