Roku gains as much as 65% in trading debut after IPO

Roku just priced its IPO at the top of its range, fetching a $1.3 billion market cap before trading on Thursday

Roku revenue comes from the sale of Roku TV streaming devices, from advertising and subscription revenue. The company says that Netflix accounted for about one-third of all hours streamed during the first six months of this year, but that revenue generated from Netflix was not material to its overall financial performance during the period. However, before investors dive in head first, memories of disastrous 2017 IPOs Snap Inc (NYSE: SNAP) and Blue Apron Holdings Inc (NYSE: APRN) have them taking a closer look at Roku and exactly what they will be getting themselves into.

In the quarter ended June 30, the company posted a net loss of $15.5 million, bigger than $14.1 million loss in the year-ago quarter.

In an interview with CNBC, CEO Anthony Wood said that "Advertising is our bread and butter".

"They're like the Switzerland of the streaming box world", Dawson said. "There is a huge opportunity to become the next generation advanced TV ad platform". "We have 15 million active customers, so there's a lot more to go".

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Roku is in the cord-cutting business.

It's competes against Apple (APPL) and Amazon ( AMZN ) and the Google unit of Alphabet ( GOOGL ) in the dynamic market for streaming TV products and services.

Despite heavyweight rivalry, Roku has managed to find and maintain its footing. The company's shares were set at 11.50 euros ahead of its slated market debut Friday, giving it a value of around $1.06 billion, according to Reuters. According to research firm EMarketer, Roku claims 32.6% of the country's 150 million connected TV users in 2016, ahead of Google at 29.9%, Amazon at 26.3%, and Apple at 19.9%. The company plans to make more money for every hour of viewing by selling more advertisements within its platform.

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