Is Roku Getting Ready to Challenge Netflix?

Back in January, Roku (NASDAQ: ROKU) bought Quibi, a short-lived streaming platform that offered short "quick bite" videos for mobile devices, for less than $100 million. The acquisition brought over 75 new shows to The Roku Channel, which provides free movies, programs, and live TV channels.

That was a great deal for Roku, since Quibi had an estimated valuation of $500 million to $1 billion just last year. It had raised $1.75 billion before shutting down its services last October.

Roku didn't start streaming Quibi's content right away. First, it rebranded Quibi's shows as "Roku Originals" in April. In late May, it launched 30 of those shows -- including Die Hart, #FreeRayshawn, Reno 911, Blackballed, and Punk'd -- as its debut streaming lineup in the U.S., Canada, and the U.K.

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Source Fool.com