With 15 million active users streaming over a billion hours of video and music per month, Roku may be planning to go public later this year. The Wall Street Journal reports that the company has hired underwriters for its IPO, and is aiming for a $1 billion valuation.
Beyond just selling its own streaming video players, Roku's master plan involves providing an operating system for smart TVs and next-generation cable boxes. In January, Roku said that its software is on one out every eight televisions sold in the United States, and Comcast has been testing a Roku app that replicates all the features of its X1 cable boxes. But until now, it hasn't been clear whether Roku could turn those ambitions into a profitable business. An IPO would suggest that the company thinks it can. JN