The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App

Digital Video Player Roku Gets Third Round Funding

This story was written by Rafat Ali.
Roku, the digital media device player company and maker of the cute little Netflix (NSDQ: NFLX) Player by Roku, has closed its third round of funding, from Menlo Ventures. The amount was not disclosed. This round follows a second round investment from Netflix that closed in January of this year...Netflix paid $6 million for an undisclosed stake in Saratoga, CA-based company.

With this new funding, the company plans to use it for, well, expansion, though tough times to be trying to expand in what is surely an expendable expense in this economic environment. To be fair, the Roku-Netflix box is pretty cheap at $99 (compared to other competitive boxes), and if you have a Netflix subscription already, the movie streaming is free too.

By Rafat Ali