1 Min Read
(Reuters) - U.S. TV startup Roku Inc is working on plans to confidentially file for an initial public offering, the Wall Street Journal reported, citing people familiar with the matter.
Roku has been working with investment banks, including Bank of America Merrill Lynch and Citigroup Inc, to prepare for a potential offering that could raise as much as $150 million, the Journal said.
The company, which makes set-top boxes that connect TVs to the Internet, did not immediately respond to emails seeking comment.
The timing of any deal is not yet set, and it is also not yet clear what valuation Roku might seek, the financial daily reported.
Reporting By Sudarshan Varadhan in Bangalore; Editing by Savio D'Souza