Connected-TV Maker VIZIO Goes Public Leveraging Hot Streaming-Video Sector
U.S.-based Connected TV maker VIZIO went public today on the New York Stock Exchange, touting its combined hardware and software offering as a way to leverage the red-hot streaming-video space.
The Irvine, Calif.-based company offered 12.3 million shares at $21 each, according to a statement.
“VIZIO has developed a complete ecosystem: We make both TVs and the software that runs those TVs, plus soundbars that connect the audio experiences,” Wang said. ‘Owning and operating multiple sides of the TV business allows us to move faster, experiment more, monetize differently, and develop a deeper relationship directly with VIZIO owners.”
The company is betting on the growing popularity of connected TVs, which enjoyed particularly strong uptake during the worst of the pandemic as cord-cutting from traditional pay-TV bundles increased and locked-down families began looking for new entertainment options beyond the traditional pay-TV bundle. A raft of high-profile new streaming services also has benefitted from the shift, especially on connected TVs.
See the full story here: https://www.forbes.com/sites/dbloom/2021/03/25/connected-tv-maker-vizio-goes-public-leveraging-hot-streaming-video-sector/?sh=1441acb452c2&fbclid=IwAR0vooD8nmttU0dxizOHwnEuBbd3FBL1gFsMymk8nx0DaUV8qwcwOWJfKr4
