(Reuters) – Video streaming device maker Roku Inc filed for an initial public offering on Friday, as the company looks to cash in on the booming demand for such services.
The Los Gatos, California-based company said it applied to list its Class A common stock on the Nasdaq under the ticker symbol “ROKU”.
Connected to televisions, Roku devices provide access to services offered by Netflix Inc <NFLX.O>, Hulu, Amazon.com <AMZN.O>, Starz among others.
Roku had 15.1 million active accounts as of June 30, according to the filing. http://bit.ly/2wYNAkO
The company streamed 2.9 billion hours, including advertising, in the six months ended June 30, a 76 percent jump from a year earlier, according to the filing.
The filing did not mention the number of shares that will be offered and their price range.
Morgan Stanley and Citigroup Global Markets Inc are the lead bookrunners, according to the filing
Roku filed for an IPO of up to $100 million. The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)