Roku planning $1B IPO for later this year, report says

Roku interface with recommendations (Roku)
Roku is reportedly eyeing a $1 billion valuation for its IPO.

Roku’s long-rumored IPO could finally become a reality later this year.

According to The Wall Street Journal, Roku has Morgan Stanley, Citigroup Inc. and Allen & Co. as underwriters and could soon file confidentially for an initial public offering.

Roku is reportedly eyeing a $1 billion valuation for its IPO. That potential figure comes after reports surfaced earlier this year that Roku was lining up another $200 million in financing, putting its “post-money” valuation at around $1.5 billion.

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Roku has been sharing information regarding its financials and subscriber totals, practices congruent with a publically traded company.

In February, Roku reported $400 million in total revenues for 2016. That includes $100 million from the media and licensing segment at Roku, a company traditionally associated with hardware.

“Our strategy to grow accounts, engage our audience and increase monetization is clearly working with 46% year-over-year growth in active accounts, 70% year-over-year growth in streaming hours and 100+% year-over-year growth in media and licensing revenues,” said Roku Founder and CEO Anthony Wood in a statement. “The investments we are making in our platform to enable advertisers and content publishers to reach our rapidly growing audience are paying off, and we are still in the early stages of our capabilities.”

Earlier this week, Roku y announced it reached 15 million monthly active accounts, up 43% annually.

“Roku is the No. 1 TV streaming platform in the United States as measured by total hours streamed,” said Wood. “We are growing our active accounts by distributing our proprietary TV OS across a broad range of streaming devices with multiple price points and many new and highly rated Roku TV models from our TV brand partners.”