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Roku made its public debut with a bang: the company listed its $252 million IPO on the Nasdaq under the trading symbol ROKU today and saw that price skyrocket more than 50%. But although they made $398.6 million in revenue last year, up 25 percent from $319.9 million in 2015, the company still loses money, having posted a net loss of $42.8 million in 2016, steeper than the $40.6 million the year before.
In addition to sales of Roku players and TVs, the company has been expanding its advertising business. It's hoping to grow the number of hours streamed by each user, and monetize the hours through advertising, according to its prospectus. The IPO comes as more and more companies look to take a slice of the video-streaming market. Advertising giant Facebook has deepened its ambitions in video streaming, and Apple and Amazon debuted new high-definition streaming devices this month.
In addition to sales of Roku players and TVs, the company has been expanding its advertising business. It's hoping to grow the number of hours streamed by each user, and monetize the hours through advertising, according to its prospectus. The IPO comes as more and more companies look to take a slice of the video-streaming market. Advertising giant Facebook has deepened its ambitions in video streaming, and Apple and Amazon debuted new high-definition streaming devices this month.