I gotta admit I am shocked this company is still going. Mostly cause google and Apple can’t seem to get their shit together and no one else in the space has a credible offering.
From term sheet:
Scoop: Roku is in advanced discussions to raise at least $200 million in new funding at a post-money valuation of approximately $1.5 billion, according to sources familiar with the situation. The company received a term sheet this week. The round will be led by U.S.-based investors, one source says, but “not standard Silicon Valley venture firms.” The total raise could go above $200 million because a portion of the deal may include secondary sales by existing investors.
Based in Los Gatos, Calif., Roku makes connected TV hardware. The startup has raised $210 million in funding so far from investors including News Corp, Fidelity Investments, Menlo Ventures, Hearst Ventures, Viacom, Fox Networks, and Netflix.
Roku competes in a crowded market; Google, Amazon, Apple and the cable providers all offer their own connected TV products. The company is known as “Switzerland” in the market – a neutral player — because it doesn’t have its own content to push users toward. A Roku representative did not immediately respond to a request for comment this morning.
As of late Apple TV hasn’t gone anywhere but it’s still the best for me as an iOS and iTunes user. We shall see when Amazon hits Singapore if they will offer a compelling reason for me to go Prime and I hear good things about the fire stick.
Regardless – Roku continues on.
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