October 24, 2014 / 8:40 PM / 5 years ago

U.S. TV startup Roku to confidentially file for IPO: WSJ

Roku head Anthony Wood holds up a SoundBridge Radio (R) and SoundBridge network music player at its headquarters in Palo Alto, California August 31, 2006. REUTERS/Kimberly White

(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.

Roku competes with Apple Inc’s (AAPL.O) Apple TV and Amazon.com Inc (AMZN.O) in April unveiled a rival video streaming device dubbed Fire TV.

Reporting By Sudarshan Varadhan in Bangalore; Editing by Savio D'Souza

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