Roku to set IPO this year, seek $1B valuation

Roku to set IPO this year, seek $1B valuation

Roku to set IPO this year, seek $1B valuation

Investors who want to bet on the future of streaming TV may soon have a new opportunity to do so: Roku is weighing an IPO that could value the company at $1 billion, the Wall Street Journal reports.

It hired Morgan Stanley, Citigroup and Allen & underwriters, the report says.

The company didn't immediately respond to a request for comment.

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The company has been fighting a legal ban in the Mexico, where cable operators are trying to stop the import and distribution of Roku devices on the grounds that they are sometimes hacked in order to watch pirated channels.

Earlier this year, Fortune reported that Roku was looking to raise as much as $200 million in additional funding.

It had 15 million active monthly accounts as of June 30 this year that had streamed over the previous 30 days.

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Roku was early to the video streaming game, launching its first device in 2008, a year after Apple released the first generation of its Apple TV set-top box.

Earlier this year, Roku revealed that it had generated close to $400 million in revenue in 2016, with its media and licensing business bringing in more than $100 million.

A large portion of the company's revenues then come out of partnership and promotional deals with content providers to give their content prominent placing within the platform.

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