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Roku Receives $45m in Funding
Submitted on 07/26/12, 10:42 AM | Click Here for the full article: Roku
Roku has just closed a $45 million Series E round. Investors include News Corp and British Sky Broadcasting (BSkyB). News Corp’s chief digital officer, Jon Miller, has also joined the Roku board. Mr Miller commented: “Roku's significant technology advantage, coupled with a strong market position, places them in a unique position to be an integral part of the television landscape for years to come.”
According to Roku, The money will be used for expansion, as well as for other initiatives. No doubt, some of the money will be used for the completion of the Roku Stick, which is due to launch this week. It’s not clear whether any will be earmarked for commercial applications, such as digital signage. (Roku Founder and Chief Executive Officer Anthony Wood is also the Founder and Chairman of the Board of BrightSign, whose players are based on Roku technology.)
With entry level devices, at half the price of an AppleTV, this will surely give Apple a further run for its money; although, having sold 1.3 million units, AppleTV is still a hobby for the company, so they may not even care.
On the media front, News Corp already has several apps available on the Roku Channel Store, including Fox News, WSJ Live, and X Factor and will no doubt add more. BSkyB’s Now TV streaming service is available on Roku boxes.
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