Roku shares jump more than 50% in trading debut

Roku just priced its IPO at the top of its range, fetching a $1.3 billion market cap before trading on Thursday

The Fox-backed company offered 15.7 million shares at $14, pegging its valuation at $1.32 million.

Shares of Roku rose in their first morning on the market, as the entertainment technology company made its public debut on Thursday. High-profile companies like Snap Inc. and Blue Apron have struggled to meet lofty initial expectations from investors, though Spotify's long-rumored initial public offering, which has been tied to potentially late 2017 or early 2018, could be a positive move for the market. Not to mention, most TVs sold today feature functions to download streaming video apps.

Roku has also flourished, seeing revenue jump almost 25% in 2016 to $398.6 million, driven mostly by sales of its devices.

Roku said it generated $199.7 million in revenue in the six month ended June 30.

Roku, however, is still unprofitable. But the Los Gatos, Calif. -based company still loses money: It posted a net loss of $42.8 million in 2016, steeper than the $40.6 million the year before.

The company brought in $399 million in revenue in 2016, but lost $43 million.

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And Roku operates the number-one TV streaming platform in the U.S.as measured by total hours streamed, according to the company's filing. According to the company's filing with the Securities and Exchanges Commission, advertising accounted for 67 percent of Roku's non-hardware revenue for the first half of 2017.

Consumers are already seeing what happens when one of the big three Roku rivals decides to protect its content: Google on Tuesday blocked Amazon's Echo Show, a smart speaker with an LCD touchscreen, from streaming YouTube.

It's competes against Apple (APPL) and Amazon ( AMZN ) and the Google unit of Alphabet ( GOOGL ) in the dynamic market for streaming TV products and services.

"We are in a golden age of TV", the prospectus said.

Despite heavyweight rivalry, Roku has managed to find and maintain its footing.

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