Roku, the Los Gatos-based seller of devices and software that let you stream online entertainment to your TV, is getting ready to go public, according to multiple reports.

The IPO should happen before the end of the year, and Roku could file its paperwork confidentially with the SEC in the next few weeks, according to the Wall Street Journal. The company is seeking a valuation of about $1 billion, a source familiar with the plans told the Journal.

Roku, which makes streaming players that connect to your TV, and Roku TVs that have streaming capabilities built-in, is riding the cord-cutting wave as more people ditch traditional cable in favor of getting their favorite movies and TV shows via the internet. Roku offers users access to programming from Netflix, Hulu, Amazon Video, HBO and more.

If this seems like deja vu, it’s because Roku was rumored to be going public back in 2014. That offering never materialized, and now the company expects to get a boost on the public market because it’s added new revenue from streaming services to the money it originally raked in on hardware sales, The Wall Street Journal reports.

But after two recent high-profile tech IPOs have faltered, Roku may have cause to worry this time around. Both Snap and Blue Apron, which went public this year, were trading below their IPO price Friday morning. Snap, the Venice, California-based maker of disappearing messaging app Snapchat, saw its share price soar when it made its much-anticipated public market debut in March. But its shares plunged after a disappointing first earnings report. New York-based meal delivery kit startup Blue Apron, on the other hand, saw trouble from the beginning. The company reined in its target share price ahead of the deal, and then ended its first day of trading without an opening-day bump.

Photo: A screen shot from Roku’s website. 

Tags: Blue Apron, IPO, roku, Snap, Snapchat

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