Roku has landed agreements with 10 CE brands to develop products compatible...
Roku has landed agreements with 10 CE brands to develop products compatible with its new USB-based $50 Roku streaming stick, Roku said. Element Electronics, GlobalVue International, Haier, Hitachi, Best Buy’s Insignia, Mitsubishi, Onkyo, Integra, Oppo and Tmax Digital will deliver…
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“Roku-compatible” TVs and some will bundle the stick with the set, Roku said. The device ships in the “coming weeks,” it said. The stick has Wi-Fi, memory, a processor and a Mobile High-Definition Link connector to plug into a TV’s HDMI port to access Roku services. Roku recently raised $45 million from several investors, including News Corp. and BSkyB, giving the company funding into 2013 that will support its international expansion, a Roku spokeswoman said. News Corp. And BSkyB each have part ownership in the broadband streaming service, but their specific stakes won’t be disclosed, the spokeswoman said. News Corp Chief Digital Officer Jon Miller was added to Roku’s board, which expanded to seven members, the spokeswoman said, but BSkyB didn’t get representation on the Roku board. Menlo Ventures and Globespan Capital Partners, both of which participated in an $8 million funding round last August, also made new investments, Roku said. Roku has now raised $67 million since its founding, including an $8.4 million round in 2009. In addition to supporting Roku’s international expansion, the new funding round will help defray marketing costs for the holiday selling season, the Roku spokeswoman said. Roku is available in Canada, Ireland and the U.K. The Roku spokeswoman declined comment on plans for new international markets.