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.”

Share:
More In Business
Nestlé dismisses CEO after he has relationship with a subordinate
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz undoes blockbuster merger after a decade of falling sales
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
Load More