Roku (ROKU) IPO Opens Up 13%
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Today's IPO for Roku, Inc. (NASDAQ: ROKU) opened for trading at $15.78 after pricing initial public offering of 15,668,000 shares of Class A common stock at a price to the public of $14.00 per share
In addition, Roku and the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,350,200 shares of Class A common stock at the initial public offering price less underwriting discounts and commissions.
Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are acting as lead bookrunners for the offering. Allen & Company LLC and RBC Capital Markets, LLC are acting as book-running managers, and Needham & Company, LLC, Oppenheimer & Co. Inc. and William Blair & Company, L.L.C. are acting as co-managers for the offering.
Roku pioneered streaming for the TV and aspires to power every TV in the world. As of the end of June 2017, Roku OS powered TV streaming for 15+ million monthly active accounts which streamed nearly 7 billion hours of video and music in the first half of 2017. Roku is known for streaming innovation and high customer engagement, offering content providers and video advertisers the best way to reach streaming audiences. Roku streaming players and Roku TV models are available in 10 countries through direct retail sales and licensing arrangements with TV OEMs and service operators. The company was founded by Anthony Wood, inventor of the DVR. Roku is privately held and headquartered in Los Gatos, Calif. U.S.
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