Video streaming pioneer Roku hopes to raise just over $252 million in an initial public offering as it tries to expand into more households.
The Los Gatos, California, company on Monday said it would offer about 18 million shares of stock at $14 apiece.
The company had 15.1 million active accounts as of June 30 and claims that its users streamed more than 6.7 billion hours over the six-month period ending June 30.
Roku is still unprofitable and has amassed $244 million in losses since it was founded in 2002. The company generates most of its revenue from selling its streaming players, but it’s increasingly bringing in money from advertising and commissions from subscriptions and other transactions made on its devices.