Roku CEO Anthony Wood Confirms Acquisition of Audio Firm Dynastrom
Reports surfaced Friday that newly public Roku had acquired the Netherlands-based audio company Dynastrom back in September for $3.5 million.
CEO Anthony Wood confirmed the deal in an interview with Cheddar on Friday.
While the executive did not disclose whether any special projects will emerge from the deal, he said that audio is at the core of Roku’s business.
“We are always looking for ways to build out our team, especially with consumer expertise,” Wood said. He adds that Roku’s business model is very simple and shared three strategies for success.
“We want to acquire active accounts, we want to build scale of our platform, and we aspire to power every TV in the world,” he told Cheddar. “The way we make money is that we monetize those active accounts.”
It's been a big week for Roku. The streaming services company smashed its first earnings report since going public. Revenues rose 40 percent to nearly $125 million in its latest quarter, compared to estimates of $110 million. It also posted a much smaller loss than analysts expected at just ten cents a share. It was estimated to lose $1.37.
“Our business is great," Wood said. "The whole world is looking to streaming.”
Plus, Starbucks reported its first quarter of declining sales and earnings since the pandemic, Biden tries to tackle the national debt and Warren Buffett is set to host the annual meeting of his investment firm Berkshire Hathaway.
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