Roku users streamed more than 6.7 billion hours on the platform in the first six month of this year, the company said, up 62% from the same period in 2016.
Now it has to compete with devices from Amazon, Google, and Apple.
However, there are some pitfalls to be wary of: the online streaming industry has a few very big players involved and Roku might be considered a small boat on this very big ocean.
Snap, Inc., the biggest tech company to have an initial public offering in 2017, has seen its shares slashed nearly in half in value as investors realized that Instagram could use its huge amount of resources, with Facebook being its parent, to simply copy the features on Snapchat.
Roku's S-1 filing revealed growing revenues, as well as a shift towards advertising-based income streams.
Roku priced its shares at $14 in its public offering, valuating the company at $1.3 billion. Not to mention, most TVs sold today feature functions to download streaming video apps. Roku claims to have just over 15 million active accounts, which made just under $400 million in revenue in 2016.
Shares in Roku have soared by 50% in their first day of trading, exceeding $21 midway through the session, pushing the streaming company's market capitalization to more than $300 million.
Roku set-top boxes and dongles offer users access to free channels like YouTube, subscription channels like Netflix and cable channels like HBO.
Roku said its future growth depends on TV streaming advertising, which includes ads that appear on its user interfaces as well as video ads delivered to users as they stream content. Menlo Ventures was the largest stakeholder prior to the IPO, owning 35.3 percent of the company.
Smith noted that the other high-profile tech public offering of the year, Blue Apron, will soon be directly challenged by Amazon, which filed a trademark for its own meal kit service earlier this year.