Roku's rise in the streaming video world has mirrored Netflix -- and its strategy, focus and culture resemble Reed Hastings' company, too.
Last year, Roku made about $510 million from its hardware and branded smart TVs. It made $1.3 billion from platform services.
Wood financed Roku's Series A round himself. Netflix pitched in $6 million for the Series B as part of the 2008 box transaction. Roku's Series C, split in two parts in 2008 and 2009, featured one venture capital firm — Menlo Ventures. Carolan and his partners would reinvest again in 2011's Series D, 2012's Series E and finally 2015's Series H — the last round needed before Roku's IPO.of all Roku shares. Carolan stayed on Roku's board from 2008 to 2018.
"Lots of CEOs of big media companies came to spend time with Roku to figure out what it is, what's streaming, how is it going to disrupt my business?" Leff said. "And I will say, unequivocally, there wasn't one media executive — and they're all very smart in their own right — there wasn't one who believed Roku would be successful, even when it was generating hundreds of millions of dollars in revenue. Even when it went public.
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