Andre Yoskowitz
30 May 2013 21:11
Roku has raised $60 million, led by Fidelity and Hearst Corp. as new investors.
Numerous previous investors, including News Corp., BSkyB and Dish invested again, as well. The total the company has now raised is $130 million, says CEO Anthony Wood.
Wood says the company will use the money to make Roku the standard for smart TV operating systems. Wood (rightly) believes that most companies, with the exception of Samsung, will not want to invest in new software for smart TVs, and he wants Roku to ease into that role.
The company has sold over 5 million set-tops to date, but Wood says sales are "strongly accelerating."
Following Microsoft's unveiling of the Xbox One, it appears Roku will have even more big name competition besides Apple and their Apple TV.