Roku — the digital streaming company that allows users to steam videos and display photos on HDTV — has been sticking its big toe into IPO waters for some time, but hasn’t taken the big plunge.
Now, the company might not go public after all. Especially after the $45 million capital boost it received Thursday from global media company News Corp (NASDAQ:NWSA) and the media giant’s part-owned subsidiary British Sky Broadcasting (PINK:BSYBY). News Corp also put one of its top executives on Roku’s board of directors.
“For us this is a lot of money,” Roku founder and CEO Anthony Wood said in an interview, according to The Associated Press. “There would be no financial reason for us to go public any time soon.”
Roku said it will use the new capital to build further brand awareness through advertising, develop new international markets, and increase engineering and production to support sales growth of both hardware and digital media services on the platform.
News Corp’s investment, contributes to the fifth round of funding for Roku.