Sep 1, 2017

Roku files for IPO

AP Images

Roku, an over-the-top (OTT) streaming player service, has filed for a $100 million IPO (though that's likely a placeholder), according to an SEC filing. Rumors of its plans to go public emerged earlier this year, and it considered an IPO back in 2014.

Offering details: The Silicon Valley-based company plans to trade on the NASDAQ under ticker symbol "ROKU," with Morgan Stanley listed as left lead underwriter.

Financials: Roku is unprofitable. It reported $24.2 million in net loss on $199.7 million in revenue for the six moths ending in June 2017. In the fiscal year 2016, it reported a net loss of $42.8 million on $398.6 million in revenue. Its revenue comes from sales of streaming devices as well as through advertising and subscriptions. In the first six months of 2017, devices accounted for 59% of total revenue. In fiscal 2016, they made up 74%.

Backers: The company has raised over $200 million in VC funding, and is valued at almost $1 billion according to Pitchbook. Its investors include Netflix, Menlo Ventures, News Corp, Sky UK's venture arm, and Viacom, among others.

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Jim VandeHei, Margaret Talev

The cost of going after Bloomberg

Illustration: Eniola Odetunde/Axios

Here's the growing dilemma for 2020 Democrats vying for a one-on-one showdown with frontrunner Bernie Sanders: Do they have the guts — and the money — to first stop Mike Bloomberg?

Why it matters: Joe Biden, Pete Buttigieg, Amy Klobuchar and Elizabeth Warren all must weigh the costs of punching Bloomberg where he looks most vulnerable: stop-and-frisk, charges of sexism, billionaire entitlement. The more zealous the attacks, the greater the risk he turns his campaign ATM against them.

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Courtenay Brown, Danielle Alberti

How Trump’s economy stacks up

Source: "Presidents and US Economy", Trump figures through 2019 courtesy of Alan Blinder; Note: Data shows real GDP and Q1 growth in each term is attributed to the previous president; Chart: Axios Visuals

Average economic growth under President Trump has outpaced the growth under Barack Obama, but not all of his recent predecessors.

Why it matters: GDP is the most comprehensive economic scorecard — and something presidents, especially Trump, use as an example of success. And it's especially relevant since Trump is running for re-election on his economic record.

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Axios

Coronavirus cases rise as 14 American evacuees infected

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

14 Americans evacuated from the Diamond Princess cruise ship tested positive for the novel coronavirus before being flown in a "specialist containment" on a plane repatriating U.S. citizens back home, the U.S. government said early Monday.

The big picture: COVID-19 has now killed at least 1,770 people and infected almost 70,000 others. Most cases and all but five of the deaths have occurred in mainland China. Taiwan confirmed its first death on Sunday, per multiple reports, in a 61-year-old man with underlying health conditions. Health officials were investigating how he became ill.

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