Roku Surges in Market Debut
Best of Cheddar
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8m 43s
Roku made its public market debut on the NASDAQ Thursday and saw its shares soar right out of the gate. While Snap and Blue Apron have shown how difficult it is to make the transitiion into the public spotlight, Roku CFO Steve Louden explains why his company is positioned to succeed post IPO.
Demand for Roku shares proved to be strong as investors rushed in to scoop up stock in the top TV streaming platform in the U.S. Shares began trading at $15.78 a share after pricing at $14. Roku had initially proposed a price range of $12 to $14.
Louden discusses growing Roku's active account base and chats about the strategy to increase the number of hours of content watched by its users. He emphasizes the importance of relationships with content publishers like Netflix and Hulu.
Despite holding onto its position at the top of the market, it's hard to ignore competition from tech giants such as Amazon. Louden says that's nothing new, though, and stresses the significance of appealing to new users. Louden adds that Roku is at an advantage, because it doesn't have to spend a lot on marketing.
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