Roku Inc, the manufacture of online media players reached an all time high for its fourth consecutive time on Friday last week when its shares jumped up by 6.2% to trade at $95.78, climbing more than 47.5% since it published its earnings report on 8th May, 2019.
Roku’s gains have grown by more than 212% in this year pushing its market cap to around $10.9 billion.
Roku was founded in 2002 by Anthony Wood announcing their first Netflix Internet video streaming box on 20th May, 2008 running on Linux. Today, their devices are in their sixth generation with more than 5 new different models, Roku TV, games and more streaming services such as Amazon Video, HBO Go, Roku HD, BBC, Spotify, Sky News, etc.
Despite the fact that Roku does have smart TVs, most of the glory goes to its streaming sticks that are like small amped USB flash drives and streaming boxes which can even turn your old non-smart TV into a smart one so that you can stream popular TV shows and movies.
With such a large portfolio of products and huge demand, it is no surprise that they are reeling in profits.
Roku devices are very affordable and can be used globally, but this of course may not be the case for most African countries where internet is still too expensive to sustain monthly streaming of online content or places which do not have stable internet connections.
2. Market Watch
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Lawrence writes about tech, lifestyle, politics, business, crypto and occasionally entertainment. He writes for Newslibre and Spur Magazine while consulting with numerous international companies on strategy, community management and marketing.
He has contributed to the journalism, open source, film, youth, web, Andela and Mozilla communities.