*By Britt Terrell*
Roku, the leading provider of over-the-top hardware, has shifted its focus from selling TV boxes to providing access to streaming content through its platform on others' devices.
The company is happy to trade the margins it makes on selling OTT hardware for growing its users, said Steve Louden, Roku's chief financial officer.
"We focus on two things: driving active account growth ー that's the scale of the platform ー and then monetizing the platform," Louden said in an interview Wednesday with Cheddar. "Players are important to us, but they are just one of three ways we grow active accounts," he added.
Roku sells players to plug into TVs; it licenses its platform to TV manufacturers, and licenses its operating system to streaming and telecommunications companies like Sky in Britain and Telstra in Australia.
Hardware sales are becoming less important to the company's bottom line, Louden said, and focus has shifted to its platform business, which has more potential users. The company has 21 million active users, most of them in the U.S., and the company is looking to grow internationally. It's already in 23 countries.
"Roku historically has been primarily focused on being and maintaining our leadership position as the number one streaming platform in the U.S.," Louden said. "But increasingly we are looking to the international markets as well."
For the full interview, [click here](https://cheddar.com/videos/roku-cfo-talks-stock-performance-and-national-streaming-day).
Connected cars software development platform Smartcar announced this week it has raised $24 million in a Series B round led by Energize Ventures. Smartcar's software can be integrated into mobile and web apps from mobility businesses. It allows users to do things like locate and unlock a vehicle, as well as check its mileage, fuel level, and battery if the vehicle is electric. Smartcar's technology is compatible with 22 different vehicle brands in 31 different countries. Smartcar co-founder and CEO Sahas Katta joined Cheddar News' Closing Bell to discuss.
If some members of Congress have their way, there might finally be a 'TLDR' on sites' terms of service, introduced by the terms-of-service labeling, design, and readability act – or TLDR for short. With this act, users will actually understand what they're agreeing to or the many ways in which their data is being used before pressing 'accept.' J.D. sat down with co-sponsor of the bill and Senator Bill Cassidy, to discuss.
On this episode of Cheddar Innovates: Vrai CEO discusses the process of creating lab grown diamonds, Entrupy CEO breaks down how the app uses artificial intelligence to analyze authenticity for luxury goods and sneakers; A look at Curiosity Stream's 'Red Elvis.'
Vidyuth Srinivasan, CEO and Co-Founder of Entrupy, joins Cheddar Innovates to discuss how this app uses artificial intelligence to analyze authenticity for luxury goods and sneakers, and why this is so critical as the secondary and resale retail markets are on the rise.
Mona Akhavi, CEO of Vrai, joins Cheddar Innovates to discuss the process of creating lab grown diamonds, why this industry is growing, and the latest trends in the jewelry and engagement ring space.
