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Thursday, July 26, 2012

Roku picks up financing from BSkyB, News Corp and more, keeps eye on the premium streaming crown

Roku picks up financing from BSkyB, News Corp and more, keeps eye on the premium streaming crown:
The little media streamer company that could, Roku, has gained some powerful friends in its latest round of financing, with $45 million in funds coming from the likes of BSkyB, News Corp and another partner who would prefer to remain nameless at this time, as well as previous investors Menlo Ventures and Globespan Capital Partners. While we leave you to ponder which company might be that unidentified source, Roku is simply continuing on, earmarking the money for use in building brand awareness, expanding internationally and much, much more. Also, that MHL-connected Roku Streaming Stick introduced at CES? It hasn't gone away and is still on track for launch later this year, with an eye towards providing a "Roku Inside" bundled experience for otherwise dumb flat-panel HDTVs.
Roku's alignment with BSkyB (which reported a $10m stake in its earnings this morning, as well as the option to distribute its own branded Roku hardware) makes sense after the pay-TV giant launched Now TV recently with the hockey puck as one of its supported platforms, while CEO Anthony Wood tells us the fruitful partnership with News Corp had its root in the Fox News, Wall Street Journal Live and X-Factor channels it launched last year. Wood cites plans to make Roku "the TV distribution platform of the future", and this fifth round of financing -- larger than all previous rounds combined -- may help push it in this direction, check out a few more details in the press release after the break.
Continue reading Roku picks up financing from BSkyB, News Corp and more, keeps eye on the premium streaming crown
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