AfterDawn: Tech news

Roku raises $60 million for set-top business

Written by Andre Yoskowitz (Google+) @ 30 May 2013 21:11 User comments (1)

Roku raises $60 million for set-top business 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.

Previous Next  

1 user comment

131.5.2013 14:20

Technically the 360 already rivals the capabilities for a Roku. I for one don't use my 360 to stream, because it's big, loud and distracting. Plus I can disconnect my Roku in 30 seconds and take it with me anywhere. Also don't need Xbox Live to get on Netflix, which is something MS needs to change if they want to be seriously competitive. Not all of us 360 owners live for online gaming.

Comments have been disabled for this article.

News archive