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Roku connects with investors in debut, shares up 17%

In the quarter ended June 30, company posted a net loss of $15.5 mn, bigger than $14.1 mn loss in the year-ago quarter


Shares of Roku Inc, a Fox-backed video streaming firm, rose as much as 16.6 percent in their market debut on Thursday, giving the US IPO market a much-needed shot in the arm. The US IPO market is struggling to finish 2017 on a high note even though it has already raked in more money so far this year than it did in 2016. Snapchat owner Snap Inc, and meal-kit delivery company Blue Apron Holdings Inc, which listed in the first-half of the year are trading well below their listing prices. At $16.33, Roku had a market capitalization of $1.55 billion. A pioneer in helping ...

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First Published: Thu, September 28 2017. 21:34 IST