Roku

The move is part of a marketing partnership which features an in-person event at SXSW and Best Buy selling Roku-branded TVs.

It showcases the latest Roku devices available at Best Buy and upcoming original content on The Roku Channel. Best Buy reported a 10% drop in revenue for that quarter and recently said it might close up to 30 stores this year. Roku and Best Buy announced today the streaming platform and device company will get access to the electronics sellers’ first-party data. Last year Roku formed a partnership deal with Walmart to test out shoppable streaming ads. This comes the day before the pair launch Roku City, an in-person, interactive activation at South by Southwest (SXSW). The deal has the company’s advertising business,

Earlier Friday, the Federal Deposit Insurance Corporation, or FDIC, announced that California state regulators had ordered SVB closed, with its assets placed in ...

](https://www.barrons.com/market-data/stocks/sivb) ](https://www.barrons.com/market-data/stocks/roku) [

Ads running on the Roku platform can now be targeted, measured and optimized against first-party data from Best Buy to increase relevance and improve ...

[reported flattish revenue growth in the fourth quarter](https://variety.com/2023/digital/news/roku-q4-2023-earnings-roku-channel-100-million-1235523888/). It recently [said it could close as many as 30 stores this year](https://www.retaildive.com/news/best-buy-to-close-as-many-as-30-stores-this-year/643973/). Meanwhile, Best Buy gets access to a scaled CTV network and inventory. Last year, it struck a partnership with Walmart — another major retail media player — to pilot shoppable streaming ads. The collaboration could help both companies capture more spending as marketers ramp up their bets on retail media. Best Buy operates a

(Bloomberg) -- Roku Inc. tumbled in extended trading after saying that 26% of its cash is being held by the failed Silicon Valley Bank.

San Jose, California-based Roku said it believes it has enough funds to meet its needs for the next 12 months and beyond. Roku had $1.9 billion in cash and equivalents on its book as of March 10, according to a regulatory filing Friday. They trimmed the loss to 3.8% and were quoted at $57.83 as of 5:43 p.m.

Roku said late Friday that nearly a quarter of its cash balance is held at the shuttered Silicon Valley Bank and is largely uninsured.

Other companies that have outlined exposure to the bank include:\n\nRoblox, which said that about 5%, or $150 million, of its $3 billion in cash and securities balance are held at SVB\nJuniper Networks, which said less than 1% of its total cash is in SVB accounts. Roku said late Friday that nearly a quarter of its cash balance is held at the shuttered Silicon Valley Bank and is largely uninsured.\n\nThe popular streaming platform provider said in a securities filing that SVB holds $487 million of its $1.9 billion cash position. Shares of Roku fell around 5% in aftermarket trading to $57 after the disclosure.\n\n"At this time, the company does not know to what extent the Company will be able to recover its cash on deposit at SVB," Roku said in the filing, acknowledging that its deposits with SVB "are largely uninsured."

Brands can target, optimize and measure their ads on the streaming platform using Best Buy shopper data, ensuring Roku viewers see ads that interest them, Roku ...

Streaming company Roku said in an SEC filing that it held nearly a half-billion dollars at failed bank SVB, highlighting the worries across tech.

[FDIC's statement, when the bank opens on Monday, March 13, all insured depositors will have access to their insured deposits](https://www.businessinsider.com/silicon-valley-bank-svb-particularly-scary-bank-failure-why-2023-3). [filing](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001428439/000142843923000010/wk-20230310.htm). [according](https://finance.yahoo.com/quote/ROKU/) to Yahoo Finance. [filing](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001428439/000142843923000010/wk-20230310.htm) that its "existing cash and cash equivalents balance and cash flow from operations will be sufficient to meet its working capital, capital expenditures, and material cash requirements from known contractual obligations for the next twelve months and beyond." However, Roku noted in the [filing](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001428439/000142843923000010/wk-20230310.htm) that its deposits with SVB are largely uninsured. [disclosure to the SEC](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001428439/000142843923000010/wk-20230310.htm) that approximately 26% of the $1.9 billion in total cash and cash equivalents it has as of Friday were held at SVB.

Dive Brief: Adding another retail partner, Roku has agreed to sell its Roku Select and Plus series TVs and the Roku Wireless Soundbar exclusively through Best ...

Department of Commerce’s Census Bureau](https://www.retaildive.com/news/monthly-retail-sales-from-the-us-commerce-department/574252/). [dropped by almost 10%](https://www.retaildive.com/news/best-buy-to-close-as-many-as-30-stores-this-year/643973/) year-over-year to $14.7 billion. “Our goal is to make everything about a smart TV delightfully simple, from finding the TV that’s perfect for you, to opening and unboxing, to enjoying your favorite movies and TV shows,” Mustafa Ozgen, president of devices at Roku, said in a statement. Its net revenue rose 13% year-over-year to $3.1 billion, and its gross profits saw a 2% bump compared to 2021. With the new capability, consumers who see Walmart’s ads can press the OK button on their remote controls and buy products at the checkout screen. [target ads to consumers](https://www.businesswire.com/news/home/20230310005244/en)on Roku using Best Buy shopper data, according to a press release.

Connected television platform Roku is rolling out new sports-specific features in the US, including personalisation options, that it hopes will strengthen ...

The intriguing thing will be to see whether the features are scalable and adaptable enough, and whether Roku has the desire, to expand to other markets. Major smart TV platform holders like Google and Samsung are an obvious candidate and even ESPN is considering positioning itself as a centralised hub. “As the number one selling [connected TV] OS in three major markets, we understand what people want when it comes to a streaming platform – a simple yet delightful experience that feels personalised to them,” said Preston Smalley, Roku’s vice president of viewer product.

Roku says it had 26% of its cash on deposit at Silicon Valley Bank, which failed on Friday in the biggest banking collapse since the financial crisis.

“At this time, the company does not know to what extent the company will be able to recover its cash on deposit at SVB,” the filing said. If depositors lose confidence on the safety of their deposits over 250k then we are in trouble.” The company put out an SEC filing noting it had no funds at the bank. Steve Louden, who joined the company as chief financial officer in 2015 and helped spearhead its IPO, announced last year that he planned to exit in 2023. “As the FDIC sells the assets of SVB, future dividend payments may be made to uninsured depositors.” “Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds,” according to the filing.

CNBC's Bertha Coombs joins Fast Money to report on Roku's cash holdings at SVB. With CNBC's Sara Eison and the Fast Money traders, Tim Seymour, Jeff Mills, ...

The bank was seized by the government entity Friday, but insured depositors are told their funds will be available Monday. Roku had $487 million held by SVB at ...

The cash, which represents 26% of Roku’s total, is a significant hit to the CTV leader. [at SXSW,](https://adage.com/section/special-report-sxsw/912) where it has erected a multi-story, interactive recreation of its Roku City screensaver, which Jordan Rost, Roku’s head of ad marketing, told Ad Age is the company’s “first time activating at this scale.” Revenue increased to $3.13 billion last year, from $2.76 billion in 2021.

The fallout from the collapse of Silicon Valley Bank is impacting a range of startups and larger firms including, as we know now from SEC filings, ...

Roku—a hardware digital media company known for its streaming devices—held about 26% of its cash at Silicon Valley Bank Financial, according to a securities ...

[second-largest](https://www.forbes.com/sites/conormurray/2023/03/10/what-to-know-about-silicon-valley-banks-collapse-the-biggest-bank-failure-since-2008/?sh=5f3560d03a21) bank failure in U.S. SVB sold assets amid a surge in withdrawals, which created $1.8 billion in losses. Treasuries and mortgage-backed securities, but as the Federal Reserve increased interest rates to combat inflation over the last year, the firm’s investments began to fall. The firm is second only to Washington Mutual, whose [2008 failure](https://www.nytimes.com/2023/03/09/business/silicon-valley-bank-investors-worry.html) came as the bank had an estimated $300 billion in assets. [$13 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465923031135/tm239184d1_8k.htm)), Sangamo Therapeutics ( [$34 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1001233/000162828023007587/sgmo-20230310.htm)), Eiger Biopharmaceuticals ( [$8.3 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1305253/000119312523067764/d471742d8k.htm)) and Oncorus ( [$10 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1671818/000095017023007351/oncr-20230310.htm)), which said its holdings represented an estimated 23% of the company’s total cash. SVB’s deposits grew from $60 billion in 2020 to nearly $200 billion two years later as the tech industry grew during the pandemic. [minimal](https://www.sec.gov/ix?doc=/Archives/edgar/data/1043604/000104360423000046/jnpr-20230310.htm)” cash balance of less than 1% of the company’s total cash, which the company listed as [$880 million](https://investor.juniper.net/investor-relations/press-releases/press-release-details/2023/Juniper-Networks-Reports-Preliminary-Fourth-Quarter-and-Fiscal-Year-2022-Financial-Results/default.aspx#:~:text=Fourth%20Quarter%202022%20Financial%20Performance,the%20third%20quarter%20of%202022.) at the end of 2022. [7.9%](https://www.sec.gov/ix?doc=/Archives/edgar/data/1819994/000095017023007358/rklb-20230310.htm) ($38 million) of its total cash at SVB. [according](https://www.sec.gov/Archives/edgar/data/1428439/000142843923000010/wk-20230310.htm) to a securities filing, wth its remaining $1.4 billion in cash is distributed across other financial institutions, the company noted. [according](https://www.sec.gov/ix?doc=/Archives/edgar/data/1315098/000110465923031295/tm239193d1_8k.htm) to a filing, though the video game company said SVB’s collapse will “have no impact” on its day-to-day operations. [revealed](https://twitter.com/circle/status/1634391505988206592) in a tweet late Friday it held $3.3 billion with the bank, adding the remainder of its $40 billion in cash was held elsewhere. [according](https://www.sec.gov/Archives/edgar/data/1428439/000142843923000010/wk-20230310.htm) to a securities filing, as other companies have disclosed ties to the firm after it was closed by regulators Friday.

As of March 10, Roku had total cash and cash equivalents of approximately $1.9 billion. It added that roughly $487 million is held at SVB while the remaining ~$ ...

“Notwithstanding the closure of SVB, the Company continues to believe that its existing cash and cash equivalents balance and cash flow from operations will be sufficient to meet its working capital, capital expenditures, and material cash requirements from known contractual obligations for the next twelve months and beyond,” it added. “The Company’s deposits with SVB are largely uninsured. At this time, the Company does not know to what extent the Company will be able to recover its cash on deposit at SVB,” Roku said in a filing.